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Director Penalty Notice in Australia

A Director Penalty Notice is an official letter the Australian Taxation Office sends when your company hasn't paid certain tax debts. As a director, you can become personally responsible for...
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Hospitality Sector Insolvencies in Australia

When your hospitality business faces insolvency in Australia, you must follow strict legal steps. You need to appoint a liquidator, notify creditors, and lodge documents with ASIC. Your tax obligations...
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Mining Contractor Insolvency in Australia’s Mining Sector

Mining contractor insolvency happens when your mining service provider can't pay its debts and stops operating. As an Australian mine employer, you face risks like project delays, lost equipment access,...
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What happens to a Director of a Company in Liquidation?

When a company liquidation happens in Australia, the director loses control over the company’s affairs, assets, and operations. These responsibilities are handed over to an appointed liquidator. Directors must cooperate...
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What are Liquidated Damages?

A liquidated damages clause is a clause in some commercial contracts that sets a specific amount one party must pay if a particular term is breached. Also known as an...
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Personal insolvency/bankruptcy frequently asked questions

What is Bankruptcy and why would you choose to become Bankrupt? Bankruptcy occurs when an individual is insolvent (unable to pay their debts as and when they fall due) and...
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Corporate insolvency frequently asked questions

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...
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Deadline set for Director Identification Numbers (DIN)

What’s a DIN? Recent amendments to Corporations Act 2001 compel all company directors to prove their identity with a Director Identification Number (DIN) and the date has been set for...
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