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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. Banks extend the company’s lifeline. Not only that, banks also serve as unpaid financial advisors whose advice may become most valuable during tough times. It is not unusual for …

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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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Rio Tinto Scraps Dynamic Discounting Amidst Backlash

Rio Tinto Scraps Dynamic Discounting Amidst Backlash

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 …

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14 Signs Your Business is Insolvent And What You Need to Do to Save It

14 Signs Your Business is Insolvent And What You Need to Do to Save It

Preventing a business from becoming insolvent is difficult. To run a business, 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 …

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4 Tax Changes Affecting Business Owners This 2020

4 Tax Changes Affecting Business Owners This 2020

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 …

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