For a while, the ATO had been sympathetic about uncertain cash flows and made some changes to its normal practices, such as suspending its normal collection strategy. But this is now changing, and it’s revealed it’s now using a rule that was passed in 2019 by the federal government to crack down on businesses that fail to pay their tax debts.
Under the rule, the debts of businesses can be disclosed to credit reporting agencies by the ATO to allow them to measure or update credit worthiness. The info…
Read the full article at: https://www.accountantsdaily.com.au/columns/16143-time-for-some-tough-talking
A slow transition to a low-carbon future and failure to take urgent action on climate risks stranding more than a trillion dollars in oil and gas projects, according to a new study out from financial think tank Carbon Tracker Initiative.
The groups fifth annual analysis of the risk of investing in oil and gas reveals the worlds largest energy firms continue to invest in major projects for fossil fuel exploration inconsistent with the goals of the Paris Agreement and declining demand. Rapid declines in production long-term could deliver serious shocks to company valuations and elevate insolvency risk, according to the author of the report.
[Oil majors] are continuing to sanction projects that just do not fit in a low carbon world. We fin…
Read the full article at: https://au.finance.yahoo.com/news/oil-majors-risk-insolvency-with-slow-climate-action-report-133958445.html
Gambling addict reveals how winning 127,000 in a casino 20 years ago sent her down path of destruction where she blew 500,000, lost her home and spent her wedding night playing slots until 6am
- Gambling addict Lisa Walker, 48, from Essex ended up bankrupt
- A win in 2001 became the start of a nightmare that would last two decades
- Lost her house after remortgaging three times and ended up in a hostel
- She spent her entire wedding night losing money while playing the slots till 6am