Flynn Transport owes $1.4 million in super and tax
RECENTLY collapsed Northern Rivers trucking company Flynn Transport owes more than $800,000 to the Australian Tax Office for unpaid employee superannuation.
Central & North Burnett
Don't miss out on the headlines from Central & North Burnett. Followed categories will be added to My News.
RECENTLY collapsed Northern Rivers trucking company Flynn Transport owes more than $800,000 to the Australian Tax Office for unpaid employee superannuation, according to documents from a creditor's meeting held this week.
The debt is held by NSW Employment Company Pty Ltd, one of the three companies which went into liquidation when Flynn officially closed on June 30.
A list of known creditors prepared by forensic accountancy firm Worrells shows the company owes $807,226 to the ATO for Super Guarantee.
The company owes the ATO an additional $633,310 in taxes, plus about $135,000 in unpaid wages and entitlements to former employees.
This includes some $23,500 to former director Tony Flynn.
There are no assets listed on the company's balance sheet.
However, Worrells partner Morgan Lane previously told The Northern Star assets from one of the other two companies under liquidation, which had estimated surplus assets worth $2.3 million, could be used to repay some of the company's debts.
However, Mr Lane said a third company under liquidation was also carrying estimated debts of $1.5 million, which would leave the company $700,000 in the red even if it was able to comprehensively liquidate its assets.
Originally published as Flynn Transport owes $1.4 million in super and tax
The Sunday Quiz: What is the tallest waterfall in the world?
Peter Dutton became Opposition Leader in what year? Which car firm makes the Camaro model? Put your knowledge of trivia to the test with The Sunday Quiz.
Hell and high water: Inside ground zero of North Qld’s flood nightmare
In the dead of night, as most of Ingham slept, a torrent descended. Nothing will ever be the same again. This is the untold story of how the North Qld spirit conquered unimaginable tragedy and heartbreak.
‘Can’t race without it’: Speedway dealt double blow after wall collapse
Bundaberg’s speedway is still out of action after part of the track’s concrete wall collapsed for the second time in 12 months, forcing it to cancel two events. LATEST.
‘Danger to the community’: Mum barred from the road until 2040
A Qld mother of three had been slammed for her terrible driving behaviour following a three month crime spree spanning from the Fraser Coast to Mackay, and involving aiming a vehicle at police officers.
Keith Pitt made Ambassador to the Holy See in shock announcement
Outgoing Federal MP for Hinkler Keith Pitt announced he would exit politics late last year citing “frustration” and policy disagreements, and hinted at the time that an undisclosed new job opportunity was among the reasons for his decision. Now we know what that was.
‘Heard gunshots, then sirens’: Mystery deepens after property lockdown
Neighbours have described what they heard before police swarmed a rural Qld property and eerie recent history has emerged despite limited information coming from authorities. LATEST.