Does your business provide services, goods, hire equipment or materials on credit?
If you do then the PPSA will likely apply to your business and you should benefit from compliance.
Do you work or have clients in “risky” industries such as construction, mining supply or equipment hire?
Having PPSA registrations in place greatly increases your chances of getting paid and recovering your equipment.
Are you considering an expansion or sale of your business?
Robust PPSA procedures and compliance lessens your risk profile to lenders meaning easier and cheaper borrowing. Potential purchasers appreciate the value in having risk management procedures in place.
Have you ever been told by a customer or client that they were considering liquidation / bankruptcy and were unable to pay for your goods or services at that time?
Being PPSA compliant helps your chances of recovery when these statements are actually true and lessens the likelihood of payments you do receive being taken back by a liquidator as a “preference payment”. With the correct trading terms and PPSA registration, payment for services can be secured – not just goods!
Do you feel that your business insurance premiums are too low?
PPSA compliance at $6.80 per client for 7 years’ cover is the cheapest insurance you will ever get and covers you for the risk of your client or customer becoming insolvent when owing you money or holding your goods. This is often a greater risk than fire or theft and your other policies will probably not cover the risk of your client becoming insolvent.
If the above raises any further questions for you please contact our office on 9387 5637.
Source: Hamish Scott, Everest Legal
Mark has helped us immensely to understand our financial position, these guys are not just tax agents, they fully understand all aspects of business.
Daniel and his team at Tactica Partners have been taking care of me, my family and my company's accounting needs and I highly recommend him and the team. They've made getting tax done so easy and Daniel is an amazing accountant and extremely thorough and helpful.
…very professional, well prepared and organised. They have given us great business and personal tax advice, offered us good business insights, and more general personal planning advice too.
They continually deliver on all aspects of their service offering. …..we appreciate the substantial assistance they have provided in managing our bookkeeping function and providing proactive tax and accounting advice. We value their ongoing input in helping us strive for continual improvement on our reporting processes and delivery of timely information to our US office.
At last! An accountant who has "not" had a totally successful charisma bypass operation! Sensible and knowledgeable advice. Excellent!
Mark H and Helen have given us wonderful support for our family and business accounting for several years now. When I got my first invoice I grumbled……. not now. We can see the savings and feel the security for ourselves.