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Articles
Sale of Goods, Retention of Title - Protection?
Boost for tax data-matching.
Extra online support from your Accountant
2013-14 Federal Budget at a Glance
Overview of the 2013-14 Federal Budget
Full version of the Federal Budget speech for 2013-14
Off-Market Share Transfers - $50 FEE
The big super split
Easy Ways to make a Tax Payment
Refund Cheque from the Australian Taxation Office - not likely!
For those clients who like to do some extra research.
Tax Help for Bushfire and Flood Affected Areas
Creditors Awarded Damages after Director's Breach of Duty
Sale of Goods, Retention of Title - Protection?

 

If you sell goods and expect to retain ownership until paid, you could well be unsuccessful unless you satisfy some red tape.



     

 

 

 

 

Goods are often sold with a Retention of Title clause, which in its simple form means that title does not pass until payment occur.  Early notice of the Terms of Trade and properly drawn Conditions of Sale are important.  However, even more important today is to register that interest on the Property Securities Register.

The register has an online service, allowing “owners of goods” to protect the interests.

This has a relatively straight forward process, with tutorials available.

If the registration is not made, a liquidator will be entitled to disregard your claim that you are the ‘owner of the goods’.  The result will be a bad debt, unless you have some other recourse e.g. a director guarantee.

 

 

 

 

 

 

 

 

 

 

 



28th-June-2013