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LATEST NEWS

Keeping our clients informed.

Latest news and press releases

What’s been happening in the world of trade credit? See here for all the latest news, articles and events.

NEWS ARCHIVE

Disclosure of Tax Debts

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 Word from the Managing Director: Kirk Cheesman

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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Trade Credit Risk Index Q2

Risk index score rises to the highest level in 3-years

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Preference Claims

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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Financial Reporting Changes

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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A Word from the Managing Director: Kirk Cheesman

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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Trade Credit Risk Index Q1

Risk Index Score Remains Steady

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A Word from the Managing Director: Kirk Cheesman

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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PPSR: Expiring Registrations

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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Top-Up Cover: What You Need To Know

While we will always do our best to get you the full credit limit you need from your insurer, there will be times (perhaps because of capacity issues) where, although your insurer is prepared to offer ‘some’ cover, it is not as much as you actually need.

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