Running a business has never been harder, with constant challenges forcompany directors, even more so when facing financial difficulty. This presentation covers a range of issues including directors’ duties, the risks of transacting withrelated entities, and the many exposures for directors. The presentation includes a number of war stories from our experience in handling various administrations and importantly we also comment on the risk to advisors.
With many businesses facing mounting tax debts post-COVID, the ATO is a looming presence. We take a look at the recovery powers of the ATO and also the potential for the new Small Business Restructuring to formally compromise tax and other debts.