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 become most valuable when your
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 workers’ wages
Rio Tinto scrapped its proposed dynamic discounting because of backlash from small- to medium- suppliers. The mining giant says the scheme will benefit its 10,000 suppliers by offering payments earlier than the customary 30 to 45-day period for discounts of up to 2.0%. Following the backlash, Rio Tinto is instead slashing its payment terms to
It is not easy running a business because you must contend with a lot of factors, some of which may be beyond your control (e.g. economic crisis). Success also does not come easy as it takes long hours of hard work to get even just one customer through your door. It is a shame then
Businesses must plan this year’s tax payments early, according to Susan Franks, a senior tax advocate at Chartered Accountants Australia and New Zealand (CA ANZ), pointing out four core tax changes that she said may “get lost on busy business owners.” If you don’t have your ducks in a row and haven’t complied with single
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