Bankruptcy and your Business
FACT NUMBER 1. Tax debts will be covered by bankruptcy.
FACT NUMBER 2. Just because you are Bankrupt it doesn’t mean you can’t be in business for your self. The rules are clear, you can trade under an ABN number. You can not be Director of a Company. If your business is a registered company (Pty Ltd) and you are considering bankruptcy you really need to get advice.
We have assisted many company directors avoid thousands and some times tens of thousands of dollars in unnecessary fees when they need to go bankrupt. Let our experience benefit your situation.
If your business is not making money and has got you into a pile of debt, unless you have another option to earn big dollars, going bankrupt will give you a fresh start.
We can assist you to cease your business including releasing you from any lease that you may have. You can go bankrupt if you have outstanding tax returns due. Don’t believe the old fallacy that your returns must be up to date and that you must be unemployed.
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