Phone: (03) 9563 4688

Email: office@aubreypaton.com.au

Address: 17D Chester Street, Oakleigh VIC 3166

Latest Accounting News
Hot Issues
Tax Office sounds alarm on popular property strategy
Our Advent calendar for 2018
‘Please do not panic’: ATO boss addresses STP concerns
Stop!! Don't do a paper Budget, use our online budgeting tools instead.
Employee Christmas Parties and Gifts – Any FBT?
Behavioural Coaching and your financial plans
FBT – Christmas Parties and Taxi Fares
Information needed to be the BBQ expert.
Tax consequences of trust vesting
Fringe Benefits Tax (FBT): employees’ private use of vehicles
ATO to contact clients over bank details
ATO claws back $850m in unpaid SG in FY 17-18
Appetite for property in SMSFs shows signs of life despite tough market
Superannuation gender gap narrowing, research shows
Identification numbers for directors
How financial advice helps create wealth.
Australia's vital statistics
Unlocking equity crowdfunding in Australia
$20m boost for SME clients looking to exporting
Work-Related Expenses
ATO updates crypto guidance
ATO zones in on hundreds of newly created reserves
Senate passes $20,000 instant asset write-off extension
Victorian Vacant Property Tax
Director Penalty Notices
ATO set to pounce on undisclosed income streams
In case you missed it – The company tax Bill that did pass Parliament.
GST spotlight headed to smaller end of town
Superannuation Amnesty – Maybe! Maybe Not!
ATO drills in car-sharing focus this tax time
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Articles

From George and John

Merry Christmas and a Happy new Year to all our clients.
Powerful Superannuation tool on our site.
Gifts Provided to Employees at a Christmas Party – any FBT?
Reminder Tax Break Deadlines
Australian Taxation Office (ATO) Bungled Attack on Foreigners
Tax File Numbers (TFN) and Super Funds
Recognition of same-sex Couples in Super
Attitude of Banks to Insolvency
From the Desks of George and John
3 x Tax Time Checklists
Director Penalties – Workplace Relations Act
Tougher Sponsored Workers Policy
Insolvent Trading Defences
Case Study - Player Management Fee Deductions
Attitude of Banks to Insolvency
.

Unlike the recession of the 1990’s, the banks seem to see the appointment of an Insolvency Practitioner to a troubled business as a last alternative rather than the first.

Banks generally prefer to work with clients if it is felt the financial difficulties are short term due to the current conditions.  The Tax Office is also supportive, particularly for GST and PAYG concessions.

In the SME sector if the business has a solid core business the banks will work with the business to try and find a successful outcome.  This is all predicated around the business being able to show the bank the extent of their difficulties and their plan for recovery.

Businesses who are not able to do this will not be supported by the banks.  It is therefore more important than ever for businesses to keep their accounts up to date and ensure they are accurate.  A business that does not do this and then falls on hard times will find it difficult to convince their bankers that they are worthy of support.

 

 

 

 

 

 



13th-November-2009