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Can the ATO make a tax debt invisible to you?

For both individuals and small business owners, the idea of tax debt with unseen consequences is worrisome. It can impact future financial operations without clear signals or the usual pathways to address it. Usually when you owe a tax debt,…

Director penalty notices for debts

The ATO have announced that they will be targeting unpaid debts very soon, with only 21 days to pay. They will first be sending out letters stating that they might send out a penalty notice soon. This will affect many thousands of…

Recognising the signs of potential insolvency

Australia’s economy is growing at a slower pace than many would like, with small businesses in some sectors doing it tough. Recognising the warning signs of potential insolvency is key to trading through difficult times. Basically,…

Safe harbour for directors of struggling companies

Australia’s insolvent trading laws impose harsh penalties on directors of companies that trade where there are reasonable grounds to suspect that the company is insolvent. Criminal and civil penalties can apply personally including…

What is debt recycling?

We all know that recycling is great for the environment. But debt recycling? Well, if done right, that could be great for your own little patch of planet earth. There are three things that many Aussie property owners wish they could do:…
Credit card traps

5 Common Credit Card Traps

Credit card providers love to use all kinds of incentives to get you to put that shiny piece of plastic into your wallet, ripe for usage at your weaker moments. Here’s how to avoid getting snared in credit card debt. Most humans love…

What makes your debt tax deductible?

There are two kinds of debt in this world: the kind that is tax deductible and the kind that isn’t. Knowing the difference, and planning your purchases accordingly, can significantly improve your cashflow, opportunities and overall…