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Earlier this year, the Australian Government introduced the Coronavirus Economic Response Package Omnibus Act 2020 (Cth) which was designed to provide temporary relief to businesses and stimulate economic activity. As touched on in our earlier article (Directors’ duties under the temporary COVID-19 measures), this bill included a temporary COVID-19 safe harbour defence for directors from insolvent trading liability where ordinarily...

When adopting the capitalisation of earnings methodology for valuing a business, a valuer must determine an appropriate multiple to apply to the future maintainable earnings of the business. The earnings multiple is designed to be a measure of risk. It assesses the riskiness of the maintainable earnings of the business and is typically described as the rate...

With Jobkeeper now at an end, this seems like an opportune time to provide a refresher for directors to ensure they understand how they could become personally liable for outstanding company taxation debts. In April 2020, the ATO widened the net for personal liability, from unpaid pay as you go “(PAYG”) withholding and superannuation, to...