Insolvency & the Tax Man

- Jekyll & Hyde -

Presented by

Michael Jones
Jones Partners Insolvency & Business Recovery

When companies and individuals become insolvent, frequently the Australian Taxation Office is the largest creditor. This presentation will review the attitude of the Australian Taxation Office in various Administrations and in various circumstances. The presentation will also look at the remedies and reliefs available to company Directors and individuals who face insolvency and in particular are concerned about their exposure to the tax office.

During the financial crisis, it became abundantly clear that the ATO had taken a somewhat softer approach in relation to outstanding taxes and late lodgments. However, that situation has changed. The attitude of the ATO once legal proceedings commenced has become far more rigid. The seminar will provide anecdotal examples of situations where the tax office has afforded a degree of leniency and conversely where the tax position has become somewhat problematic.

The presentation will also look at recent changes to Tax Legislation announced in the budget and its affect on directors in relation to outstanding BAS and Superannuation payments and the director penalty regime .

Michael is the Managing Principal of Jones Partners Insolvency and Business Recovery and holds a Bachelor of Arts (Accounting) Degree from Macquarie University. He is a Registered Liquidator, Official Liquidator and a Registered Trustee in Bankruptcy. Michael was also a former NSW State Councillor of the ICA and has served on a number of Committees.
Michael has over thirty (30) years of experience in the insolvency and bankruptcy field and has been involved in many large and high profile corporate insolvency matters and successful corporate re-organisations.
Michael is well known for his ten (10) P’s of success. He is regularly seen presenting at professional seminars and conferences and takes an active role in ensuring that professionals are aware of the implications which can occur if an individual or corporate entity falls into financial difficulty.

View Larger Map