Business closures and director penalty notices are hitting record highs across Australia. If you've missed a BAS lodgement or you're dreading a red letter from the ATO, you're not alone. Jase deals with this every week at Future Advisory. Today he covers what a Director Penalty Notice actually means, the rescue options like a Small Business Restructure that most owners don't know exist, and the one lodgement habit that keeps them all on the table.

On this episode, we discuss:

(00:00) Intro
(02:55) Why Two Franks Cafe closed despite the queue
(07:04) How Prime drink collapsed owing $8 million
(10:00) Director Penalty Notices, up 136% in a year
(12:01) What triggers a Director Penalty Notice
(15:37) Why to lodge on time even without paying
(18:06) Inside a Small Business Restructure
(19:19) How an SBR proposal works with the ATO
(22:25) What Voluntary Administration actually involves
(24:51) Straight liquidation and what gets clawed back
(30:29) What actually happens if you go bankrupt
(32:41) The income threshold during bankruptcy

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The Numbers Game is brought to you by Future Advisory & Inovayt.

Hosts:
Nick Reilly
Jason Robinson

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