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Boat Dealers - what's the word on the street?

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Post Options Post Options   Likes (1) Likes(1)   Quote Mc Tool Quote  Post ReplyReply Direct Link To This Post Posted: 06 Sep 2024 at 1:46pm
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Gold
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Joined: 23 Dec 2021
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Originally posted by Pcj Pcj wrote:



As far as taxes go .1.5 mill is a lot of outstanding tax though.

Trev Terry owed creditors 16 mill.

Who can afford to find companies with that sort debt outstanding?

Why / how businesses  allowed to get to that level of debt , I mean $$$ mill ...... wouldnt you  think  things had turned to 5hit and it was time to put an end to it well before you're that far in. Do you just keep blundering along safe in the knowledge that your blowing other  peoples money  and that when its all over  you'll come out of it with your personal wealth largely intact and maybe pay a few cents in the dollar to some of the creditors.
I wish I was young again .... Id be heaps smarter than this time
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Post Options Post Options   Likes (1) Likes(1)   Quote Alan L Quote  Post ReplyReply Direct Link To This Post Posted: 06 Sep 2024 at 3:04pm
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Titanium
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I think the answer to that Q is the revised attitude the IRD are now taking. Not letting the piece of string get so long before stepping in. Of course it will be politically unpopular in some quarters. Businesses pushed to the wall by the IRD - be kind to everyone.
It is us, taxpayers, who end up wearing the IRD debt.  The amount of GST that goes uncollected in fact means the GST rate is not 15% - as far as Govt coffers go. Then there are all the poor suppliers/tradies etc who get totally screwed.
Aus is far tougher on this sort of behaviour - ruthless. 
Alan
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Post Options Post Options   Likes (0) Likes(0)   Quote Pcj Quote  Post ReplyReply Direct Link To This Post Posted: 06 Sep 2024 at 6:59pm
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I know of one supplier who was notified by one company of difficulties but these 2 still have a outstanding debt to him.

How can a restaurant (SPQR) run up debt of 5 mill in Ponsonby.
"Times up"
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Post Options Post Options   Likes (1) Likes(1)   Quote Mc Tool Quote  Post ReplyReply Direct Link To This Post Posted: 06 Sep 2024 at 7:31pm
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Joined: 23 Dec 2021
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Originally posted by Pcj Pcj wrote:

How can a restaurant (SPQR) run up debt of 5 mill in Ponsonby.

Just dont seem right  does it ?
I wish I was young again .... Id be heaps smarter than this time
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