Australia Migration, Immigration Australia, Migrating to Australia
20th July 2008 about | WA Tourist Info | copyright | contact us | privacy policy | terms | sitemap |
Migration Institute of Australia Member
Registration Number 1971 and 2748
Registered to Provide Migration Advice
MARN numbers:
0208366, 0426675, 0641256, 0742456 and 0640237
More info about Immigration Australia, Visa Australia
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Business FAQ's

Business FAQ's

  • How do I decide which business structure is best for my business?
    You have to look at the objectives of the business, the tax structure you want, personal liability etc. You must get professional advice from a lawyer and/or accountant about this. 

  • Can companies be deregistered?
    Yes. Companies that have stopped operating can voluntarily deregister. The Australian Securities and Investment Commission can also deregister a company that has breached the Corporations Act.

  • If a company goes under and leaves debts behind, what property is available to meet the debts?
    Because of the limited liability of shareholders, it is usually only the company's assets, plus any money owing on shareholdings. Note, directors may also be personally liable in certain circumstances.

  • Are new partners equally liable for the actions of the partnership before they joined?
    No, unless this is part of the agreement under which they joined.

  • What about a partner who has left the partnership?
    A retiring partner is liable for actions taken by the partnership whilst they were a partner, unless there is a specific agreement to the contrary.

  • If I only have enough money in the bank account to cover part of a cheque I have written, can the bank pay out for that amount?
    No. The bank can only pay out the full amount of the cheque, or not at all.

  • Isn't it better to enter into a periodic tenancy agreement for my shop in case the business fails?
    That might seem like a good idea on the face of it, but remember, you tend to build up goodwill in a particular location, and if you don't have a fixed term lease, you may be evicted with a month's notice and lose all the goodwill you have worked to establish.

  • Is an assignment of a lease the same as sub-letting?
    No. It's better to be able to assign a commercial lease, because sub-letting means you are still responsible to the landlord for the term of the lease.

  • Who owns the copyright of products developed by employees?
    If the work is created in the course of employment, the copyright is owned by the employer.

  • Is there a law that regulates franchises?
    Yes, the Franchising Code of Conduct was introduced in July 1998. It sets out rules in relation to disclosure, the franchise agreement, processes for dispute resolution etc.

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