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I'm a small business owner in Australia, I started the company 18 months ago. I got approx. 110k of loans for vehicles and machinery. The first 12 months the Company turned over close to 400k. There was of course a lot of overhead expenses and not a whole lot of bookkeeping. I never paid any taxes but always planned on getting it sorted from the start. 6 months ago, there was a suicide in the family and there was a downward spiral from that day. I quit a contract which was 95% of my income, and I still lived as if I was still making close to 10k per week. I was owed 50k worth of invoices but was spending and gambling it all of it as it came in and I was broke before I knew it. I've scraped by the last few months, making decent money but struggling to get back on top as I fell behind on a lot of payments. I've recently spoken to an accounting firm and we are starting this week. they are going to get everything in order and start the process of fixing up last years taxes etc. I found out the other day that because I owed an ASIC bill, my company has now been deregistered. I can sort it out and register my company again or do I start a new company and have a fresh start? What happens to taxes owed to the company that's been deregistered? what happens to the loans and the machinery that I have?
If you have read this far then thankyou for giving me the time.
I'm very good at what i do, I have a lot of good contacts in my industry and I have no problem in having consistent work. But i have the worst budgeting, saving, and spending skills. I have gambling problems and I am not organised. I have been thinking about going into partnership with someone. someone who can be in charge of all bank accounts, spending etc. Have all my bills paid and give me minimum wage with no expenses. what do you guys think I should do
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- 11 months ago
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