Restructuring/Insolvency

Do you have a major tax problem? Are you losing sleep over unpaid tax liabilities? Is it all just getting too much to keep up with? Are you worried about losing your personal assets and possibly the family home?

There are many reasons why a person and/or business may face financial difficulties. May it be through economic downturn or poor financial advice in times gone, we will work with you quickly to identify the root of the problem and help you find a way to get back on your feet and protect your assets.

Some of the typical indicators of financial distress include:

  • Cash flow problems
  • ATO Income Tax and Integrated Client Account debts
  • ATO defaulted payment arrangements
  • Not lodged income tax returns
  • Not lodged Business Activity Statement returns
  • Outstanding creditors
  • Decline in earnings

 Personal & Corporate Restructure

Our first step is to see if we can fix things and get you and/or your business back on the right path forward. This is achieved through:

  • Taking a fresh look at the situation
  • Examining and reconstructing accounting records
  • Incorporating new entities to mitigate business risks
  • Finding out what the real problem is and assisting you to address it

Insolvency/Pre-liquidation action

In the event it is deemed your trading operations are nearing insolvency, it is at this time you must act to mitigate any risks or losses you may face should a ‘forced’ liquidations action be brought against you by either the ATO or other creditors.

The key to a well-managed restructure is to on the front foot and be proactive about cleaning up your financial affairs and to create an opportunity to make a fresh start.

The aim of this ‘Pre-Liquidation’ action is to as much as legally possible:

  • Protect personal assets of directors and immediate stakeholders, including the family home
  • Protect business assets where possible
  • Create a platform for the business to trade from debt in a new structure
  • Minimise losses as a result of the eventual liquidation

We have a strong network of legal advisors and registered liquidators to assist us in this process. Our role is to hold your hand throughout the entire process.

Our promise to you is we will help you minimize tax, protect your assets, improve your business and create wealth.