Rodgers Reidy

In the dynamic and often unpredictable world of hospitality, financial stability can sometimes be elusive. For many hospitality businesses in Australia, the challenges of managing debt can be overwhelming. However, the introduction of the Small Business Restructuring Process (SBRP) offers a lifeline.

Directors and shareholders can fall out for a variety of reasons. Sometimes there is fraud or dishonesty but often it is a mismatch between governance styles, risk appetite, views of the future and the value each brings to the table. Skills that may have been vital in the startup phase may be redundant, if not dangerous, to a mature business.

This article explores the key differences that can arise between listed and unlisted valuations, and the strengths and weaknesses of each methodology, taken from the viewpoint of someone who has worked on both sides of the fence.

Unlisted valuations are receiving increasing regulatory attention in Australia, with some outspoken market observers having labeled unlisted valuation practices as ‘dodgy’, while others continue to promote the methodology as superior to listed market valuations, which can be ‘irrational’ at times.

The Australian government’s spirit tax has been fermenting trouble for local distilleries in the land down under. The tax, which has recently risen to AU$101.85 per litre of alcohol, is now the third-highest in the world. This increase is part of an automatic adjustment in line with the consumer price index (CPI), a policy that has seen the tax soar by 16% over the past three years.

In an increasingly digital world, insolvency firms in Australia face unique cyber security challenges. Protecting sensitive client information, maintaining data integrity, and responding effectively to breaches are critical. Let’s explore strategies to enhance cyber security and manage data breaches within insolvency practices.

The Australian Taxation Office (ATO) plays a crucial role in revenue collection and ensuring compliance with tax laws. As we step into 2024, the ATO faces significant challenges in managing debt owed by individuals and businesses. Let’s explore the debt collection trends and policies shaping the ATO’s approach.

In the complex world of taxation and corporate governance, director penalty notices (DPNs) have become a critical tool for the Australian Taxation Office (ATO) to recover outstanding tax debts. As we step into 2024, understanding DPNs is essential for directors, business owners, and professionals alike.

The Australian accounting profession is undergoing a seismic shift due to digital disruption. As technology advances, traditional accounting practices are being challenged, reshaped, and, in some cases, completely transformed. Let’s explore the impact of digital disruption on accountants and the trends shaping the future of this vital industry.

As the accounting landscape evolves, professional accountants in Australia face a myriad of challenges. From regulatory changes to technological disruptions, staying ahead requires adaptability and strategic thinking. Let’s delve into the most critical issues impacting accountants in the Land Down Under.

Forensic accounting, once a niche field, has gained prominence in recent years due to its critical role in uncovering financial irregularities, preventing fraud, and providing expert testimony in legal proceedings. In Australia, forensic accountants play a pivotal role not only in investigations but also in insolvency accounting. Let’s explore the trends shaping forensic accounting and its close ties to insolvency matters.

Australia’s insolvency framework for small businesses underwent significant changes on January 1, 2021. The purpose of these reforms was to assist financially distressed small businesses (with debts under AUD $1 million) in surviving by providing simpler, more flexible restructuring options.

In April 1999, 25 years ago, Peter Rodgers and Geoff Reidy started a business called Rodgers Reidy. Today, that business has offices in all states of Australia, the Northern Territory, New Zealand, Malaysia, Singapore, and Hong Kong.

The ATO reported that during the financial year 2023, over 24,000 Director Penalty Notices (“DPN”) were issued to individual company directors with respect to more than 18,000 companies. Surprisingly, only 1/3 of taxpayers subsequently took action to engage with the ATO.

As most of us were in the midst of holding staff Christmas parties in December, the Supreme Court of Victoria highlighted the importance of accountants providing registered office services in passing on correspondence to their clients in a timely manner, particularly in relation to a statutory demand.

Consider the prospect of revitalising your struggling small business and embarking on a new beginning. A Small business restructure (SBR) can effectively achieve that objective. Financial trouble and insolvency is only one of the many challenges small firms are faced with in the modern economy. Implementing a company restructuring strategy can serve as a viable solution to mitigate  these challenges.