This month’s case study looks at the importance of identifying warning signs and how quickly things can change. This case involves a situation with the ATO, where events quickly spun out of the director’s control, and how getting professional advice quickly can make a massive difference. Background We received a call from an accountant who attended an instalment in our de Jonge Read Seminar Series. The accountant’s client operated a small transport business through a company,

Well, it’s coming to that time again. The end of the financial year. Over the coming months many accountants and professional advisors will be meeting with their clients, and perhaps talking to those business owners that have not paid much attention to the numbers since the same time twelve months ago. Maybe the meeting will be with that new client who they just brought on. As specialists in assisting company directors and individuals in financial distress we often get ask

Business owners can often feel trapped in their businesses. They owe so much that the money from the sale of the business would not cover it. They may feel that they have no choice other than to trade on. In this month’s case study we look at how we helped a client get out of their business and on with the rest of their lives. BACKGROUND Our client owned a café, but the business was struggling to meet its commitments. Prior to engaging with de Jonge Read the client spoke

Many business owners set out with a view that the sky will always be blue. Maintaining a positive outlook is important however, as we all know, the weather can change unexpectedly and quickly. All too often we meet with business owners who are neither aware nor prepared for the impact an adverse event can have on them and their family personally. We often liken this to being caught in the rain without an umbrella. In our role as advisors raising awareness of key risk areas

In a recent article on Smart Company, it was reported that although small businesses are ‘doing it tough’, the Australian Tax Office is continuing its aggressive pursuit of businesses. From November 2016 to June 2017, 46% of all wind-up order applications for companies came from the ATO. Although the number of ATO instigated wind-ups are down from when they started their campaign to recover revenue owing to the government, there is no doubt that the ATO is maintaining its agg