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Tax Time Checklists - Individuals; Company; Trust; Partnership; and Super Funds
ATO updates JobKeeper compliance approach
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Jobkeeper Fraud warning
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Boosting cash flow - ATO
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Temporary Working from Home Expenses Rule
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COVID-19: Early Childhood Education and Care Relief Package
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Now I’m working from home, what can I claim?
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ATO clarifies COVID-19 rent relief concerns
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Articles
Sale of Goods, Retention of Title - Protection?
Boost for tax data-matching.
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2013-14 Federal Budget at a Glance
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Off-Market Share Transfers - $50 FEE
The big super split
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Refund Cheque from the Australian Taxation Office - not likely!
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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.

 

 

 

 

 

 

 

 

 

 

 



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