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  Miscellaneous 2009

Tax issue for companies (and their directors) when approaching, and entering, insolvency

Source: TAS

Published Date: 16 Oct 2009

 

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This paper provides a practical insight into the rights, obligations and entitlements of companies and their directors when insolvency is looming. It considers when a proactive approach is warranted in dealing with the taxman's debts, and the consequences of adopting a ‘head in the sand' attitude. The paper focuses on real life situations affecting SMEs in the Global Financial Crisis and covers:

  • tricks and traps for negotiating tax debts with the ATO
  • when personal liability attaches to directors for unpaid tax debts, and how to ensure personal liability does not arise
  • the (few) circumstances under which the ATO enjoys a priority over unsecured creditors.
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  • Published By: Lachlan R Wolfers CTA
  • Published On:16 Oct 2009
  • Took place at:Tamar Valley Resort, Tasmania

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