Australia Migration, Immigration Australia, Migrating to Australia
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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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FAQ's about running your business

FAQ's about running a business

What's an example of negligence in the operation of a business?
Let's say you own a lawn-mowing business and you fail to maintain your lawnmower. If, as a result of this, the blade flies off the lawnmower and injures a person, you may well have been negligent.

Do I have to disclose a material fact on the insurance proposal even if it is not specifically asked?
Yes. You have to reveal anything that would affect the company's decision to offer the insurance contract. Often a proposal will contain a question like: "Are there any further facts that should be disclosed?"

If I am the only employee of my company, and the company owns the car I drive, does the company have to pay fringe benefits tax?
FBT is levied against companies in relation to benefits received by employees above wages/salaries and superannuation. The law changes regularly. To check whether a particular benefit is covered, talk to your accountant or contact the Australian Taxation Office.

Is payroll tax applied to payments made to independent contractors?
Yes, depending on whether the amount is larger than the minimum total payments set by your State where payroll tax kicks in.

What can I do if my employee won't give me his tax file number? How can I deduct his PAYE tax?
You must get advice from the Tax Office, but in general you will be obliged to calculate tax at the top marginal tax rate.

Do I have to accept an offer to pay a debt from a customer in instalments?
No, but it might be a good idea if you don't want to go to court and the debtor is making a genuine effort to pay the debt.

If a company owes me money can I put a caveat on their property?
You can generally only put a caveat on a person's property if you have what is called a "caveatable interest". A debt would not normally give you this right. There are a number of methods you can use for debt collection - talk to a lawyer about these.

Can I sue a supplier for unconscionable conduct?
You may be able to if you can prove unconscionable conduct. The Trade Practices Act was changed recently to give small business the same sort of protection offered to consumers.

If I declare bankrupt, can my wife's' assets be sold?
Your wife's assets belong to her and cannot be touched, however you need to be careful about gifts to your wife. If the gift has been made within a certain number of years, then the gift can be revoked and used to pay creditors.

What are the main disadvantage of bankruptcy?
Firstly, most of your assets will be sold. Secondly, it may affect your ability to get credit after you are discharged. Thirdly, you may find that employers view bankruptcy as a negative character trait - bankruptcy is not covered by discrimination laws.

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