The expert's battle plan for those on a collision course
with insolvency.
It is time for businesses on a collision course with insolvency
to heed expert advice and take action.
With the number of company collapses expected to rise this year,
it is time for those in the construction industry to lay the
foundations for managing such a scenario.
Now is not the time to ignore fiscal obligations. Engaging with
advisors and dealing with taxation requirements is the only way
many will avoid potentially catastrophic outcomes. After businesses
were given a break from being chased for tax debts during the
height of the pandemic, the Australian Tax Office – the
primary initiator of holding business owners accountable – is
now ramping up its debt collection activity.
