Reforms to Drive Earlier Identification of Financial Distress
Single touch payroll is coming! In recent times there has been significant discussion around a number of reforms introduced as part of the Treasury Laws Amendment (2018 Measures No. 4) Bill and the impact they would have had on company directors and the business community. Of particular interest has been the extension of Single Touch […]
Mounting Risk For Directors
In the third instalment in our series relating to the proposed budget reforms to combat illegal phoenix activity we consider the proposed change that will likely have the greatest impact on personally liability of company directors – the expansion of the Director Penalty regime to include Goods and Services Tax (GST), Luxury Car Tax (LCT) and Wine Equalisation […]
Director Penalty Notice – What Does This Mean?
So What Is The Director Penalty Regime? The Director Penalty Regime is the mechanism through which the Deputy Commissioner of Taxation (DCT) attaches personally liability to directors equal to any unpaid Pay As You Go (PAYG) and Superannuation Guarantee Charge (SGC). Draft legislation has been proposed as part of the 2018/19 budget reforms to expand the […]
Mounting Risk For Advisors
As a specialist adviser of business turnaround strategies and corporate restructures for small to medium enterprise, the reforms proposed in the 2018-19 Budget to combat illegal phoenix activity are warmly welcomed by ReGroup Solutions. It is our opinion that the proposed changes are ultimately positive and ReGroup Solutions are supportive of the overall objective of […]
Budget Reforms To Combat Illegal Phoenix Activity
In the 2018-19 Budget, the Government announced a package of reforms to the corporations and tax laws to combat illegal phoenix activity. The proposed reforms include a range of measures to both deter and disrupt illegal phoenixing and more harshly punish those who engage in and facilitate this illegal activity. The exposure draft legislation includes reforms […]
A Win for Local Business: ReGroup Solutions Turnaround Practitioners
The leaders of the Gold Coast Professional Services scene attended the jam-packed inaugural ReGroup Solutions breakfast at RACV Royal Pines on Thursday 19 July 2018 to learn about Turnaround Practitioners. The informational and networking event, hosted by partners Ben Heaney and Michael Durbridge, focused on the emerging profession of business rescue, restructuring and turnaround. There […]
Labour Hire Industry Shake Up
The Long And Short Of It There are less than sixty days to lodge an application for a labour hire licence. The practical approach for clients that operate a labour hire business would be to quickly undertake a fair assessment as to whether their company will pass the financial viability test. If there are legacy […]
Care, Diligence & the Business Judgement Rule
Who would want to be a director? Being a ‘director’ is an esteemed title which may project an image of leadership, influence, responsibility, authority and affluence. It may be that you have decided to join a NFP board, or the title is bestowed upon you by the CEO following an appraisal, you have been made a […]
How Business Owners Should Manage Risk and Checklist for Times of Crisis
Technological Advancements and Economic Growth The breadth of technological change and digital disruption has changed businesses approach to risk. Innovation and risk taking can result in significant strategic benefit and growth but, clearly, may also be hugely detrimental to shareholders, creditors and stakeholders if things go wrong. Objectively measuring and defining a company’s ‘risk appetite’ […]