An Australian software developer, KnowIT Pty., has gone into liquidation after being hit with a wind-up application.The application was lodged by the Australian Tax Office in March following the company\u2019s non-payment of tax. On June 23, a Federal Court registrar for the New South Wales district directed KnowIT to be wound up and liquidators Steven Nichols appointed.KnowIT produces Web-based knowledge management software. Former owner and director Michael Lacie said its cash flow problem had been caused by a slower development cycle. He claimed the ATO was its only creditor. "In the past, our developers had not acted professionally and the software was missing back-end components. It had to be redeveloped, with different modules reworked," Lacie said. "This meant our other projects were not completed on time."It\u2019s not a lot of money. We approached the Tax Office with a payment schedule, but the wind-up application continued."As a result of the wind-up application, Lacie said he had sold the company to Newcastle-based software development house KCM Systems earlier this month.Some of its staff had been let go, leaving six employees, he said.-Nadia Cameron, Computerworld Today (Australia)Check out our CIO News Alerts and Tech Informer pages for more updated news coverage.