A common mode of entering into a new business with co-investors/partners is through the establishment of a new proprietary limited company in which each party holds shares equivalent to their proportional ownership. But what rules govern the interaction between the new business partners and what rights do they have in the operation of the company [...]
During the COVID-19 pandemic, the ATO offered administrative relief to businesses who were experiencing financial difficulty. However, Directors were not absolved from their personal liability under the director penalty regime. Now that lockdowns have ended and we are resuming something that resembles a ‘normal life’, the ATO has recommenced its quest to recoup unpaid taxes, [...]
The PPSR is a national register of claims to security interests in personal property. It is vital to know your rights and obligations in relation to PPSR registrations to ensure your interests are registered against personal property you hold interests in, as well as being aware when others can (and can’t) register their interests in [...]
A Director Identification Number (Director ID) is a unique identifier for directors and alternate directors. The concept was introduced in the 2020 budget Digital Business Plan and now legislated to: Prevent the use of false or fraudulent director identities; Make it easier for external administrators and regulators to trace directors’ relationships with companies over time; [...]
