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Court Ruling on CGT Concession Affects Small Businesses

Court Ruling on CGT Concession Affects Small Businesses

A federal court in Australia recently issued a ruling that would affect how small businesses can avail of the new capital gains tax or CGT concession.  The business owner used an adjacent property as a shed to house tools and equipment. The business owner uses the tools and equipment in his bricklaying …

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Default on bank loans – how to avoid and what to do when it happens

Default on bank loans – how to avoid and what to do when it happens

Obtaining financing from banks is one of the most common ways a company can extend its cash and expand its business. Building a relationship with a bank also benefits businesses because banks do not just extend the company’s lifeline, but they also serve as unpaid financial advisors whose advice may …

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ASIC Releases Hit-List of Illegal Phoenixing Coaches

ASIC Releases Hit-List of Illegal Phoenixing Coaches

The Australian Securities & Investments Commission released a hit-list of coaches who encourage companies to perform illegal phoenixing. Phoenixing, as we discussed in-depth in this article, is not illegal per se but it becomes unlawful when the new company continues the business of the liquidated company to evade tax liabilities, creditor payments, and …

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