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BICB National Construction Industry Insolvency Statistics – July-December, 2018
In the first 6 months of the current financial year, (July to December) BICB reported liquidations averaged 50 per month compared to 25 per month last year. This is significantly higher, 100%, than last year. Growth in members data would account for some of this increase.
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BICB Reported Liquidations in December 2018, Highest Ever Recorded
Liquidators were appointed to 61 companies listed in BICB’s database during the month of December 2018. This is the highest ever recorded for a single month by BICB. QLD-16, NSW-13, VIC-20, SA-4, WA-7, NT-1.
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Unfair preferences – creditor’s defence of not suspecting insolvency
Just because a liquidator asserts you have received an unfair preference, does not necessarily mean you have or that there are no potential defences available to you.
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Major changes to reporting requirements for QBCC licensees now in place
Changes to QBCC financial (effective from 1st January 2019) mean that licence holders in Categories 1-3 (turnover between $600,001 – $30,000,000) will need to provide reports annually about their financial position prepared under the Australian Accounting Standards including: – a profit and loss statement; – a debtors and creditors report; and – a statement of…
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The HIA warns Australia’s housing construction downturn could get nasty unless credit continues to flow
Australia’s Housing Industry Association (HIA) has warned that tighter lending standards risks exacerbating the downturn in residential construction activity already under way.
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BICB welcomes disclosure of business tax debts
Tax Integrity — disclosure of business tax debts — amendments The Government will amend the 2016-17 MYEFO measure Tax integrity — improve the transparency of taxation debts to increase the threshold of business tax debts that can be disclosed to credit reporting bureaus from $10,000 to $100,000; introduce a requirement that the Minister consult with…
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Are unresolved A/R disputes taking a toll on your company’s bottom line?
Have you ever calculated your costs for resolving receivable disputes? If you have, you’ve probably discovered that the process is quite expensive. Here’s why.
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BICB welcomes ABN trading name extension
The government’s extension of deadline to remove trading names on the ABN Lookup has been welcomed by the industry but accountants and bookkeepers have been urged to advise clients to register a business name. The government has decided to extend the display of trading names on the ‘ABN Lookup’ from 1 November 2018 to 31…
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Consolidated Outstanding 60/90 Day Debt Percentage
Our data shows that the Consolidated 60/90 debt percentage for the first four months of 2018 is slightly higher than the first six months of the 2017/2018 financial year. It will be interesting to see if this trend continues. Consolidated DSO Result Days Sales Outstanding (DSO) represents the average number of days it takes…
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Members Data Continues to Grow for NSW and Other Regions
Trading data for NSW provided by 158 members reached $942.10m in April 2018. Data for NSW has grown by 32% since July 2017. Total members debt value for April 2018 was $2.938b ($2,938, 375,784). With ‘Other Regions’ contributing $1.793b of this total. Regions Report, April 2018 Data Region – Number of members providing…
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Should you Sue or Just Cut Your Losses?
Nothing is quite as painful in construction business as realising that your payment claim is going to sit there, unpaid, unless you take action to collect.
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The right to be wrong – the ability to review Adjudicators’ determinations
