Corporate insolvency

Yes, you can claim business losses as a tax deduction in Australia. If your business loses money, sometimes you can use those losses to lower your other income reflections. This can reduce your total tax bill, but some rules and tests do apply. Sole traders and partnerships have a different set of rules when it…

A Deed of Company Arrangement (also known as a DOCA) is a deal between your company and the people it owes money to. It promises them that you will pay off your debts while keeping your business running. Creditors vote on the plan, and if most of them agree, the DOCA becomes a binding agreement…

What is External Administration? Insolvency appointments consist of several types, including administrations, receiverships, and liquidations. Usually, a company that enters into an external administration owes money to its creditors. External administration may be initiated either voluntarily by the company’s directors or involuntarily, by its creditors.  Insolvency procedures for companies can take a variety of forms.…