PPSA deadline looms

Written on the 7 February 2014 by Macmillans Waller Fry

Businesses need to ensure that their interests are correctly registered on the Personal Property Securities Register (PPSR).

Here are some key points to think about in the lead up to the end of the transitional period:

Security interests need to be perfect under the PPSA by 30 January 2014. Perfection is most commonly achieved by registering the interest on the PPSR. Registration is a relativley simple and inexpensive process.

  • If a security interest remains unperfected after the end of the transitional period: subsequent purchasers or lesser of the secured property may acquire or lease it free of the security interest.
  • the security interest will lose in any priority contest with another security interest over the same property which has been perfected.
  • the security interest may be lost on the insolvency of the gantor.

Certain security interests were automatically migarted to the PPRS, however, this does not mean that the process was free of errors. It could be preferable to re-register migrated security interests before 30 January 2014.


Author: Macmillans Waller Fry

 

Strategies to increase profit

Whether you are struggling to keep up a steady income or wanting to grow your business, increasing sales revenue is often a central goal for businesses. Here are some strategies you can consider when looking to improve profit: Redesign operations for maximum efficiency:If you really look at the o...
Read More...


How to avoid non-paying clients

Running a business is hard enough without having to chase up payments from your customers. Here are some measures you can take to prevent yourself from having to deal with the profitability imbalance, negative client relation, and legal ordeals that come with chasing up owed debt. Research the cu...
Read More...

associations

 

 

Who we are

 

What we do

 

Macmillans - Accountants

Address:40 Church Street

Maitland NSW 2320

Phone:02 4933 4444

Fax:02 4933 7781

Email

 

Online PaymentContact Us