Financial advisory, restructuring & insolvency specialists

With Payday Super now in effect and the first FY27 superannuation payment deadlines having passed, that uncertainty remains. While the ATO has introduced the Voluntary Disclosure Statement process for reporting unpaid superannuation obligations, it has not yet clarified what constitutes timely reporting for the purpose of determining whether a DPN is capable of remittance or becomes a lockdown DPN.

Division 7A issues commonly arise in private groups, particularly where trusts and related party loans are involved. Most accountants understand the framework, but the detailed rules are prescriptive and easy to misapply. In insolvency appointments, these issues often surface during reconstruction of historical transactions and can create significant deemed dividend exposure if not addressed early.

This case study outlines how coordinated management and targeted engagement with the ATO resolved long standing Division 7A breaches and avoided a substantial personal tax exposure for shareholders.

Businesses suffering from rising fuel costs may consider the attractive terms of the ATO’s Fuel Response Payment Plan as quick and relatively easy way to improve cashflow, but there can be significant downstream risks to the business and Directors.

Other than temporary fuel tax relief, the Commonwealth Government has announced two relief packages for Australian businesses grappling with the impacts of the Persian Gulf Oil Crisis:

1. ATO Fuel Response Payment Plan; and

2. 2 Year Interest Loans under the Economic Resilience Program.

WCT Advisory is excited to announce they have appointed highly regarded restructuring and insolvency specialist Cameron Crichton as Partner to the firm.

Mr Crichton joins WCT Advisory following more than 20 years in the profession, including seven years as a partner at a national accounting firm. A Registered Liquidator, he is widely recognised for advising distressed businesses across construction, property and mid-market sectors.

This article outlines the general process involved in a PIA and the risks associated specifically with the Controlling Trustee endorsing offers with insignificant returns to creditors.

PIA’s are governed by Part X of the Bankruptcy Act 1966 …