Our audit team undertakes the complete range of audits required of Australian accounting laws to help you to help you meet obligations or fulfil best practice procedures.
It is a challenging time for many; from a cost-of-living crisis and global political uncertainty, to lingering stress post pandemic. Coupled with business control weaknesses or vulnerabilities, these pressures can create the perfect storm for financial crime to occur.
We help clients understand and address their employment tax obligations to ensure compliance and optimal tax positioning for their business and employees.
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We provide independent oversight and review of your organisation's control environments to manage key risks, inform good decision-making and improve performance.
We enable our clients to achieve their strategic objectives, fulfil their purpose and live their values supported by effective and appropriate risk management.
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Our forensics team identifies and obtains relevant information, investigates the financial issue at hand and provides a clear, concise, sustainable opinion as...
Our team advises at all stages of a litigation dispute, taking an independent view while gathering and reviewing evidence and contributing to expert reports.
Our M&A team works with clients to achieve a full or partial sale of their business, to ensure achievement of strategic ambitions and optimal outcomes for stakeholders.
Our operational deal services team helps to ensure the greatest possible outcome and value is gained through post merger integration or post acquisition integration.
As environmental, social, and governance (ESG) considerations become increasingly pivotal for dealmakers in Australia, it is important for investors to feel confident in assessing transactions through an ESG lens.
Our finance and funding team works to access sources of finance, present your case to potential funders and negotiate a long-term sustainable relationship.
We provide effective and strategic corporate finance services across all stages of investments and transactions so clients can better manage costs and maximise returns.
We work closely with clients and lenders to provide holistic debt advisory services so you can raise or manage existing debt to meet your strategic goals.
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We provide strategic director advisory services in times of business distress to help directors navigate issues and protect their company and themselves from liability.
We work closely with clients and lenders to provide holistic debt advisory services so you can raise or manage existing debt to meet your strategic goals.
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At Grant Thornton we do things differently because we understand that when you strive for better and care about what you do remarkable things are possible.
The compelling client experience we’re passionate about creating at Grant Thornton can only be achieved through our people. We’ll encourage you to influence how, when and where you work, and take control of your time.
At Grant Thornton, we strive to create a culture of continuous learning and growth. Throughout every stage of your career, you’ll to be encouraged and supported to seize opportunities and reach your full potential.
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We’re passionate about making a difference in our communities. Through our sustainability and community engagement initiatives, we aim to contribute to society by creating lasting benefits that empower others to thrive.
As a new graduate, we aim to provide you more than just your ‘traditional’ graduate program; instead we kick start your career as an Associate and support you to turn theory into practice.
The formal Simplified Liquidation process was introduced by the Federal Government in the wake of the COVID-19 pandemic as a cost effective way to liquidate an insolvent company.
A Simplified Liquidation allows eligible small businesses to appoint a liquidator who is bound by less investigation, reporting and distribution requirements resulting in a more cost effective and time efficient process than a complete Creditors Voluntary Liquidation (CVL).
Which companies are eligible for a Simplified Liquidation?
Insolvent – Be unable to pay its debts in full within 12 months after the liquidation commences.
Liabilities – Total debts must not exceed $1m including amounts for termination of employees.
Tax affairs – All lodgements must be up to date.
Limitation on time period – The company and its directors (current or in the previous 12 months), must not have engaged in a Small Business Restructure or Simplified Liquidation process in the past 7 years.
Other:
The company must commence a CVL where the event that triggers the liquidation occurs on or after 1 January 2021
The directors must sign a declaration that the company is eligible for a Simplified Liquidation.
Overview and timeline of the Simplified Liquidation process:
A Simplified Liquidation commences as a CVL and is then adopted subject to both eligibility and the initial Simplified Liquidation adoption steps being completed.
1. Appointment
Director appoints liquidator under the normal CVL appointment process.
2. Director Declaration
Director submits to the liquidator a declaration of eligibility to adopt the Simplified Liquidation process.
3. Initial Creditor Notification
Liquidator must give all members and creditors at least 10 business days notice (notice period) of their intention to adopt the Simplified Liquidation process.
4. Adoption
The Simplified Liquidation process is adopted by the liquidator unless 25% or greater in value of creditors during the 10 business days notice period request the liquidator not adopt the process, if not adopted, a normal CVL proceeds.
1. Investigation
A limited investigation process is completed by the liquidator.
2. Reporting
A liquidator report to creditors is issued within 3 months of the liquidator’s appointment outlining the assets and liabilities of the company, any misconduct identified, and the likelihood of a dividend to creditors.
1. Dividend
A dividend to creditors is completed (if required) following a simplified claim and adjudication process (only one first and final distribution can be completed).
2. Finalisation
Liquidator prepares the necessary documents to lodge with the Australian Securities and Investments Commission (ASIC) finalising the liquidation and deregistering the Company
