director advice

Due to tough economic conditions, many transport business owners are facing financial distress with some facing insolvency and being forced out of business

Cash can be elusive in a business. You and your team are flat out, sales are up, but the bank account doesn’t show it and tax or bill due dates come around way too quickly. By setting up your processes right and scheduling necessary checks, cashflow will basically manage itself!

Not paying your employees their superannuation entitlements will now mean you could face jail time. The new laws give the ATO the power to enforce up to 12 months’ jail time or hefty fines for directors of companies that do not to pay their employee superannuation entitlements.

If your company is struggling financially, you have three main options available to you: business turnaround, voluntary administration or sale (followed by liquidation or administration).

To help you understand what a statutory demand is and what the implications of receiving one are, we’ve answered all the questions for you.

Lodging and paying employees superannuation is a legal requirement for businesses. Despite this, non-payment rates in Australia are high. Here we take a look at exactly what your super requirements are, as well as how unpaid super can hurt you and your business.