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Clients in distress paper
Published on 02 May 19 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
This paper covers:
- what is a members voluntary liquidation?
- purpose of a members voluntary liquidation
- information to obtain from accountant prior to appointment
- procedures for members voluntary liquidations
- distribution of assets
- definitions
- taxation - liquidate or deregister?
Author profiles
Nicholas Wilkins CTA
Nick Wilkins, CTA provides taxation, accounting and business services to clients ranging from individuals to high net wealth family groups. His areas of speciality include capital gains tax (including the small business CGT concessions), deceased estates and small business entity concessions. Nick has extensive experience in helping small and medium size businesses maximise their potential and value – through management accounting, budgeting and benchmarking and by attending board and management meetings. His expertise helps clients maximise their return from the small business CGT concession. Nick is a long-standing contributor to the Australian accounting profession through his involvement with The Tax Institute, both locally and nationally. He was chair of the SA State Council 2021-22 and has served as a member of the National Convention Organising Committee and the SA Organizing Committees. He has made numerous presentations for The Tax Institute on topics including personal services income, employee/contractors and structuring. - Current at 29 June 2023Timothy Clifton
Timothy Clifton is a Chartered Accountant and Registered Liquidator with over 30 years’ insolvency experience across a broad spectrum of industries. He has prepared many reports on the financial position of businesses and provided advice to directors. Timothy is well versed on managing and selling businesses as well as investigating and pursuing recoveries on behalf of creditors. He also has significant expertise in preparing forensic accounting reports regarding quantification of economic loss arising from events such as breach of contract, misrepresentation or business interruption. - Current at 02 December 2022
This was presented at 2019 Barossa Convention .
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Individual sessions
Tax and the economy - Policy and performance
Author(s): Robert BreunigMaterials from this session:
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Changes to CGT small business concessions
Author(s): Paul TANTIMaterials from this session:
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Clients in distress
Author(s): Nick WILKINS, Tim CLIFTONMaterials from this session:
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Case study part IV - Losses
Author(s): Alistair Hutson, Toni HarringtonMaterials from this session:
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Tax consolidation for SMEs
Author(s): Simon HOWMaterials from this session:
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