Member of Begbies Traynor Group Global Advisory

What should I do if my business cannot pay its creditors when due (including ATO tax, PAYG and superannuation)?

Question

What should I do if my business cannot pay its creditors when due (including ATO tax, PAYG and superannuation)?

Answer

If your company cannot pay its debts (including ATO tax, PAYG and superannuation debts) as and when they fall due you should meet with Rodgers Reidy to discuss your options. Failure to take immediate action could result in your personal liability for some of these debts. It is important to understand that there are often many options available, including those that allow the company to continue to operate and, with the agreement of creditors avoid liquidation.

Menu