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Things To Consider I often provide advice to clients who are just going into business. It is important to lay the right corporate foundation for your business before you actually start trading. There are many things to consider along that climb to successful trading. Sole Proprietorship/Partnership And Business Names Most businesses are operated as a sole proprietor arrangement or a partnership arrangement. The first question will have to be 'What...

This article is based on information provided by the State Revenue Department. person acquiring an existing business is required to pay Stamp Duty when goodwill and/or other certain property is acquired where: (a) the acquisition is evidenced by a written contract for sale of business between parties; or (b) there is no written agreement and the purchase includes any of the following items: Business Assets Land, buildings and all property...

Sub-contractor or Employee? Frequently, in our practice, we encounter situations where employers have classified certain workers as sub-contractors, and arranged their affairs around this classification. This would include not arranging for workers' compensation premiums, superannuation, and PAYE tax. If a worker has signed a document and agreed to be classified as a sub-contractor, does that mean he is a sub-contractor? The short answer is NO. The courts have repeatedly said...

Franchising is one of the biggest income earners in Australia in respect of earnings by a franchisor and also in respect of assuring an income for a small business operator working as a franchisee. For the franchisor, the earning potential of a successful business can be increased substantially by duplicating a successful operation and selling the concept to a franchisee. For many the path to richness was commenced by taking...

A guide to issues a buyer should be aware of and the tasks they should perform prior to settling a business purchase. It is very important that the proper procedures are followed when buying a business, in order to protect both you and the seller. The following are some useful information in this area: Settlement is the process of arranging the exchange and stamping of contracts, payment of all monies,...

You may have the best business in the world but if your clients are not paying your bills, your business will not survive. The old saying goes, cash is best. However if you have to give credit, there are a few things that should be remembered to protect yourself. Things to consider before extending credit Effective debt recovery begins with effective documentation of the transaction. This entails more than merely...