If you don't make at least 100k per year you are better off as a registered business
Otherwise buy the oldest shelf company you can find as their are different rules for the older ones
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If you don't make at least 100k per year you are better off as a registered business
Otherwise buy the oldest shelf company you can find as their are different rules for the older ones
Thanks, ND. That's where I finally found that the ABN I knew of was cancelled in 2006. I am left with no option but to pursue the business in it's current form, which is tough on the new bloke, but in reality he bought it with stuff hanging around. The whole thing leaves a very bad taste in my mouth.Quote:
Originally Posted by NavyDiver
Treat others as you would like to be treated yourself seems to be a long forgotten motto.
Yes a spit and a handshake doesn't seem to carry much weight these days Mate.Quote:
Originally Posted by johntins
None at all, Fish. None at all.Quote:
Originally Posted by trout1105
I could tell a couple of stories about handshake deals that are still done, rock solid and worth big bucks.Quote:
Originally Posted by trout1105
Still alive and well.
DL
I agree a handshake deal can still be done But it is becoming a pretty rare event nowadays.Quote:
Originally Posted by 350RRC
The ongoing relationships in this type of dealing won't change things if the personal relationships don't.Quote:
Originally Posted by trout1105
I've worked for myself for over 40 years and only have one outstanding debt to me.......... $50. I knew it was suss at the time haha.
DL
I altered this a little. "Do unto others as you would have them do to you" is now for me "Do unto others as they do to me". I treat everyone with respect until they cross the line.Quote:
Originally Posted by johntins
I think or find 99% of people are trustworthy. The 1% who think I am a nasty, fowl mouthed, horrible bully see me exactly as they treated me [bigwhistle]
Re re the new owner. They might have his/her/their own redress on the prior sod you got to deal with. Sale of any business needs a Sec 52. If its is false or defective or not provided then actions are possible by the new owner. Not an issue for you but given the circumstances you might like to mention this to them.
Re Cancelled ABN. I wonder also if the sod your looking for broke any ABN/GST/Tax regulations. Tax evasion reporting form | Australian Taxation Office IF he failed to be registered hen needing to be or failed to pay tax in the sale of the business or GST
Most shocky types seem to be happy for 'us' to pay lots of tax for the services they use but usually forget to pay themselves. :bat:
I think the fact that I had to use the new bloke may get something rolling.Quote:
Originally Posted by NavyDiver
It is of course possible that there was a new ABN that is unknown to me. I imagine some of this will come out in the wash.Quote:
Originally Posted by NavyDiver
Registered business name can can be held by you or I as individuals, Partnerships or companies or even trusts via all of those. A REgistered business name is more a trade mark and is not itself a entity. Life can get confusing and complicated. [biggrin]Quote:
Originally Posted by incisor
I think registering a company is much cheaper and much safer than possibly picking up unknown liabilities that the prior life of a shelf company just might bite you with. [wink11]
I registered two companies- one for Australia Post making a delivery driver his own business so they do not pay super. leave or other costs for him ( my dad) and one for my business. It can be a pain with additional accounting costs, ASIC paper work and fees and insurances having a company. I would remain a sole trader or individual if possible below 200k turn over. Sole traders in my view are the most trust worthy as they are personally liable for costs. We all know of sod who rack up huge debts and walk away from big or small companies leaving employees, suppliers and creditors with huge debts:soapbox: