Who would have thought a year ago Australia would win The Ashes and our political scene would be seemingly stable! Unfortunately, this is not the case for our friends over in the UK. NCI asked Andy Moylan, Managing Director of specialist credit insurance broker EFCIS and The Export Hub, for his thoughts on the current state Brexit and what this potentially means for the UK economy
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We advised in February of the Government’s intention to increase the ATO tax debt reporting threshold from $10,000 to $100,000 if the debt owed to the ATO was overdue by 90 days or more and there were no on-going discussions regarding its payment.
Since then, a Bill has been introduced in Parliament to this effect, with the policy expected to net at least $30 million over the forward estimates through clawing back unpaid tax debts.
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A core part of our role at NCI is understanding the needs of our clients, negotiating cover which is right for them, negotiating claim payments and developing tools that helps fill any gaps.
In our recent NCI feedback survey, clients stated one of their largest concerns was not getting full cover on their existing and new customers. However, over the past two years we have been developing the product, NCI Top-Up.
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Preference claims seem specifically designed to torment efficient credit managers!
You discover that one of your customers may be having problems and immediately set about chasing up any overdue or outstanding amounts, only to have a liquidator force you to hand over the results of your efforts
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For some time it’s been a requirement that a ‘large’ proprietary company lodge audited financial reports with ASIC each year. Under the current definition, a large company must meet at least two of the following three thresholds:
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While we’re rapidly progressing through 2019, we should stop to take a moment and reflect on a couple of points from our most recent Client Satisfaction Survey. We asked our clients what the biggest challenges for them would be this year and this is what we heard:
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It’s been a tough start to the year with retailers Ed Harry and Napoleon Perdis entering administration. With lower than expected retail sales for the Christmas period, we may see more insolvencies in the first Quarter of 2019 within this sector.
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The PPSR had its 7th birthday at the end of January and, understandably, there’s been quite a growth in the number of articles being written about how to deal with registrations that are due to expire. NCI released its own fact sheet on the subject last year (click here for a copy) and our key message is simply ‘Don’t Panic’!
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The ultimate protection against bad debts, where you have your debtors insured against the risk of insolvency, protracted default or political events.
Extends from credit analysis and limit assessments to monitoring reports and tailored credit management. NCI Credit Services is there to assist you in...
Our specialised committed and commercially orientated collection team is there to collect your outstanding monies, with the skills to preserve...
NCIs Specialty Risk team is here to provide tailor-made solutions in order to protect your business against commercial and political risk.
