Jirsch Sutherland

Can you get out of a Director Penalty Notice? What about if you're no longer a director? We answer those questions and more in this quick DPN guide. #ATOdebt #tax #debt #financialdistress #directors #directorpenaltynotice #accountants #accounting #insolvencysolutions #businessturnaround #restructuring #jirschsutherland

From the entire team at Jirsch Sutherland we wish you a joyous, safe Christmas and a happy new year ahead. All the best for 2025 🎉 🧨 🎇 🎆 #newyear #merryChristmas #thankyou

To help get the sale of an artisan coffee house over the line our team employed an "unusual strategy" during the voluntary administration process - with great success, as Andrew Mattinson details in this great case study: https://lnkd.in/g4cv7Ngt #voluntaryadministration #solvency #insolvencysolutions #accountants #accounting #strategy #jirschsutherland

How is artificial intelligence transforming the insolvency sector? It's still early days but many firms are already harnessing its power. Greg Prout takes a look at six ways AI is assisting - and how creditors can benefit. Check out Greg's article here: https://lnkd.in/gxcz9-Tr #insolvencysolutions #insolvency #accounting #accountants #creditors #AI #artificialintelligence #advisers #jirschsutherland

As the slew of Director Penalty Notices continues apace, Aussie businesses are restructuring at a rate of knots - particularly in the lead up to Christmas. In his latest JS Matters article Chris Baskerville talks about the surge and why it's crucial to move fast if you receive a DPN. Read more here: https://lnkd.in/gtiWK5Sb #restructuring #smallbusinessrestructuring #taxdebt #smallbusiness #SME #superannuationguarantee #accounting #accountants #directors #directorpenaltynotice #jirschsutherland

⁉ The most common question our team has been hearing this year: "I've received a Director Penalty Notice (DPN) because of unpaid taxes and super; what can I do?" Act quickly, the clock is ticking ❗ Don't put your head in the sand - particularly because the ATO has warned it's now focusing on businesses who refuse to engage and continue to ignore its SMS and letter reminders. The ATO is not letting up on debt collection - as reinforced by the below article in AccountantsDaily today. In 2023-24 the tax office issued 8,710 DPNs over unpaid super - more than double the previous year. At Jirsch Sutherland we have vast experience assisting directors who have already received a DPN or are at risk. We can help you take action - but don't leave it too late. Contact us for an obligation free consultation: https://lnkd.in/grtx-ZSR #directors #taxdebt #superannuation #DPN #directorpenaltynotice #taxoffice #ATO #accountants #smallbusiness #SME #advisers #jirschsutherland https://lnkd.in/gePRHvEF

Another great Business Hunter breakfast! Our very own Lloyd Kerr joined Peter Hollingsworth, Business Advisor, Trainer and Mentor from The Business Centre Newcastle, on the expert panel at the November Business Development Forum (BDF), providing tips on navigating economic downturn and building business resilience. Lloyd covered a range of topics including solvency warning signs, the types of industries currently under stress, the increased debt recovery actions by the ATO and banks, and the solutions that are available if a business does get into trouble. As Lloyd explained to guests, "It's important that distressed businesses contact us at '11.30pm, not one minute to midnight'." Attended by local industry leaders, business owners, and trusted advisers including accountants and lawyers, the BDF was an excellent event, with plenty of great insights and tips for thriving in 2025 despite the economic challenges. A big shout out to Business Hunter and TAFE NSW 😊 👏 And great photography by AJM Photography!

Personal insolvency trends, corporate insolvencies, financial pressures, compliance, and the need to collaborate with registered practitioners to report unscrupulous practices from dodgy lenders and untrustworthy advisors. Just some of the topics covered at this year’s Australian Financial Security Authority (AFSA) Summit! Jirsch Sutherland Manager Victor Vuong was among more than 140 leaders in the credit system from across Australia who attended the summit and heard from a great range of speakers including keynote speaker, Attorney-General the Hon Mark Dreyfus, AFSA's Tim Beresford, Sarah Court from ASIC, Lucinda McCann (Australian Prudential Regulation Authority), and Julian Roberts from the Australian Taxation Office. At Jirsch Sutherland we provide a range of personal insolvency solutions, which is why it’s crucial to keep up to speed with industry trends and hot topics. Here are some of Victor’s key takeaways from the summit: ➡ Corporate insolvencies have increased 39% from the year before, with 90% relating to small/medium businesses. ➡ Personal insolvencies have not increased as much, with the ATO suspecting that’s because of the current low employment rate (around 4%). Previous trends when personal insolvency increased at a similar rate to corporate insolvencies was when the unemployment rate was 5-7%. ➡ 2-out-of-5 people with personal debt have indicated issues with paying their debt, with the majority being parents and millennials. Thank you AFSA for an excellent summit and keeping the industry up to date with current issues, challenges and how to better assist our clients now and into the future. #AFSASummit2024 #compliance #personalinsolvency #bankruptcy

Jirsch Sutherland Partner Andrew Spring is just back from Berlin, where he presented at the Verband Insolvenzverwalter und Sachwalter Deutschlands (VID) [the Association of Insolvency Administrators and Trustees of Germany] conference. Did you know that in Germany all insolvency appointments are initiated and governed by the Courts? And that the EU is seeking to harmonise the insolvency process in member states, whereby there’ll be a focus on a more streamlined and accessible process for MSMEs (micro, small and medium sized enterprises)? The original proposal suggests keeping the Court-appointments status quo and, as a result, EU member states are exploring their options – which is how Andrew came to be involved.   The VID conference was attended by around 500 delegates including representatives of the profession, judiciary, academics, and key stakeholders such as government creditors and employee representative organisations. Another great example of the Global relationships held by Jirsch Sutherland! Photo credit: Alexander Zehrer / VID. #insolvency #GRIP #restructuring #crossborder #globalbusiness #smallbusiness #SMEs #MSMEs #global #insolvencyfirms #insolvencylaw #conference #Germanbusiness

This #RemembranceDay, we pay tribute to all who have lost their lives in service. Please join us in honouring them by wearing a poppy of remembrance. For more info, please visit https://lnkd.in/gmSJmurN #remembertoremember #LestWeForget