Small UK businesses call for new repayment terms for Covid loans | Small business
Jess Christman, who runs a Scottish timber business, recalls that banks were “throwing money” at him during the Covid-19 pandemic as Rishi Sunak, then the chancellor, sought to help small companies stave off collapse. Christman, who runs Black Isle Firewood, near Inverness, which produces firewood and sawn timber and huts for the tourism market, ended […]
‘Admit defeat’: Aussie’s X-rated business fails
With $250,000 worth of products no one wants to buy, Christian Hull has been forced to close his store – prompting fans to take action. Justin Timberlake was arrested and charged with drink driving, for the second time this week, Jerry Seinfeld’s stand up show in Sydney was interrupted, a mysterious shiny monolith has appeared […]
Last-minute deductions for small businesses
Dear Ms Wise, I’m a slightly (OK, very) disorganised small business owner and June 30 has really crept up on me this year. I know it’s just a matter of days until the end of the financial year but is there still time to do anything to maximise my tax return? The wisdom: BDO tax […]
US Debt to Surge to $56 Trillion in 10 Years: CBO
Angle down icon An icon in the shape of an angle pointing down. The US debt is on track to soar 64% by the end of the decade, according to estimates from the Congressional Budget Office. Douglas Rissing/Getty Images The national debt will keep soaring over the next 10 years, according to the CBO. The […]
Global government debt surges: a looming crisis and potential pathways forward
The growing burden of government debt Both developed and developing economies worldwide have witnessed a significant surge in government debt, a trend that has been amplified by the economic repercussions of the recent global health crisis. The extensive stimulus measures implemented by governments worldwide have further swelled debt levels to unprecedented heights. According to data […]
AirTrunk rolls out $7 billion staple debt package to bidders
European lending giants Credit Agricole, Deutsche Bank and HSBC, and Japan’s MUFG are underwriting a mammoth $7 billion ready-to-use debt package for bidders seeking to get their hands on the $15 billion-plus data centre giant AirTrunk, Street Talk can reveal. It is understood the four banks’ $7 billion commitment includes AirTrunk’s three Japanese data centres, […]
Bendigo Council to Review Rate Payment, Debt Collect Policies
Councillors will consider a change to rates payment options for the 2024/2025 financial year and a revised Revenue and Debt Collection Policy including Financial Hardship. The changes have been proposed in response to the City seeing an increase in financial hardship issues as part of rates collection. Currently, the City generates around 62,000 rates assessments […]
Tax debt related to things like PAYE up almost 70% in two years
Photo: 123rf A sharp increase in tax debt is likely to reflect the pressure businesses are under, commentators say. Data from Inland Revenue shows that in March, there was total tax debt of $6.731 billion. That’s up from $4.833b a year ago. Of that, $2.55b was overdue GST and $1.35b “employer activities”, such as paying […]
Here’s Why United Parcel Service (NYSE:UPS) Can Manage Its Debt Responsibly
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that ‘Volatility is far from synonymous with risk.’ It’s only natural to consider a company’s balance sheet when you examine how risky it is, since debt is often involved when a business collapses. […]
Blow to tax office whistleblower as appeal rejected
Boyle, a former Adelaide-based public servant, blew the whistle on aggressive debt-recovery practices at the ATO in 2018 and is now facing 24 charges relating to the release of that information. The alleged offences, which are being pursued by federal prosecutors, relate to unlawfully gathering documents and recording conversations. Boyle had claimed immunity from prosecution […]