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In the first seven months of 2023, The Australian Taxation Office (ATO) initiated 476 wind-up proceedings against small businesses, compared with just 14 in the same period last year. This aggressive approach is being undertaken by the ATO to recover $30 billion in overdue small business tax. The tougher approach...
Read MOREIn a world dominated by digital transactions, traditional payment methods are rapidly becoming relics of the past. Among them, the humble cheque stands out as a symbol of a bygone era. As cheque usage dwindles, it is no longer the case that cheque payments come with a note saying “don’t...
Read MOREThe Federal Budget released on May 9th, conveyed a clear message that businesses must forge their own path and not rely on government-led initiative to reshape the Australian economy and navigate the impending challenges. Regrettably, the business sector is likely to perceive this Budget as a missed opportunity, as the...
Read MOREAustralian Business Insolvencies at 3.5 Year High: What You Need to Know As the cheap money era comes to an end, banks are becoming less forgiving of distressed corporate borrowers. This, coupled with rising interest rates, a cooling economy, and the Australian Taxation Office’s crackdown on company directors for unpaid...
Read MOREInflation in Australia has risen to 7.8%, which is the highest peak since 1990. Expectations are that interest rates will remain high for longer, with further increases to come. Rising interest rates when coupled with inflationary pressures, indicates a corresponding rise in bankruptcies as past trends have proven. Areas with...
Read MOREThe entire world is still suffering from the aftermath of the Covid-19 Pandemic. It has adversely affected millions of lives, international economies, and educational systems, but the worst hit has been taken by businesses worldwide. Talking about our own economy, recent ASIC insolvency statistics demonstrate that Australia’s formal insolvency appointments...
Read MOREThe ATO is clamping down on businesses with tax debts In late 2019, a new measure was introduced allowing the Australian Taxation Office (ATO) to report outstanding tax debts to credit reporting agencies. As part of the Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Bill 2019,...
Read MOREThe onset of the COVID-19 pandemic saw a flood of Government support for the economy as well as a sharp decline in ATO collection activity, with virtually no applications by the ATO to wind up companies in the best part of the last two years. There has been much conjecture...
Read MOREThe question most asked but rarely answered by many of our competitors. The reason? Their pricing models and funding costs are constantly shifting, so they really don’t know what the real cost of the facility will be for a customer. At BCashflow Positive, it’s actually a straight forward question with...
Read MORECash flow management is a critical component of business planning. Constant cash flow allows businesses to meet operating expenses while also enabling a business to grow and thrive. While there are several strategies businesses can use in an effort to improve cash flow, including sending invoices promptly and restructuring payments,...
Read MOREThe entire world is working to recover from the pandemic. Navigating this new landscape takes innovation, resilience, and awareness of a variety of changes. Workplaces and consumer habits may never return to their pre-2020 ways, and the businesses setting themselves up to thrive are closely re-examining all areas of their...
Read MORENow more than ever, businesses need to explore alternative financing solutions to ensure they have sufficient cash flowing through their business. Traditional bank loans and overdrafts are not your only option; to give you the flexibility and simplicity you need to grow your business. At BCashflow Positive, we have more...
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