Miscellaneous 2008

The taxman, statutory demands and winding up proceedings

Published Date: 28 May 2008

 

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The Commissioner often uses a creditors statutory demand and winding up proceedings to attempt to collect unpaid taxes from companies. A company must act very quickly if it wants to challenge a statutory demand or defend a winding up proceeding brought by the Commissioner. One option may be to appoint a voluntary administrator. This paper covers:

  • statutory Demands - what are they and how to deal with them
  • winding Up Applications - what happens and how you can defend one, if at all?
  • why company directors should consider appointing a voluntary administrator if faced with winding up proceedings
  • applications under section 440A of the Corporations Act to adjourn a winding up application.

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Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

The Tax Institute
(ABN 45 008 392 372 (PRV14016))

("TTI")

The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009. 

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