The PM Scott Morrison has announced an $800 million funding injection to assist businesses to take advantage of digital technology. At first glance, this seems like a massive digital push for small business, however, a closer look shows much of the promised funding has already been accounted for. Supercharged online database to minimise red tape… Read more »
The Australian Small Business and Family Enterprise Ombudsman Kate Carnell has welcomed the announcement by Shadow Assistant Treasurer Andrew Leigh of a proposal to name and shame directors of companies that phoenix. The proposal would enable the Commissioner of Taxation to publicly name directors who deliberately “burn” companies to avoid their obligations to small businesses,… Read more »
Revenue and Financial Services Minister Kelly O’Dwyer has released draft legislation aimed at cracking down on illegal phoenixing. The legislation plans to make phoenixing activity a punishable offence and aims to prevent company directors from engaging in the type of dodgy behaviour which currently limits their personal liability such as backdating resignations or leaving a… Read more »
If things are turning pear-shaped for your business, if you feel like you’re flogging a dead horse, and if you’ve exhausted all avenues of a financial resurgence than it may be time to call it a day… or find a new venture. It’s perfectly okay to pursue new opportunities, but it’s not okay to jump… Read more »
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