If you have decided to sell your vehicle or equipment privately to a purchaser, there will be a range of information requested in order to satisfy the Financier requirements and enable settlement to occur.

This guide is designed to assist you as the seller with:

• Understanding the private vehicle/equipment sale process;

• Why information is being requested by us and the financier; and

• Details of how the information we and the financier receive is handled.

CYBERSECURITY

• Article of Interest

  NEW REPORT SHOWS OVER 8 IN 10 AUSSIE ORGANISATIONS HAVE SUFFERED RANSOMWARE ATTACKS

  • By Liam Garman for Cyber Security Connect

Why lending rates are on the rise explained

The Australian Government has announced the introduction of a new mandatory Director Identification Number (DIN/director ID) as part of the Modernising Business Registry (MBR) Program. The roll-out will start from November 2021.

The DIN will provide accountability and traceability of a director’s relationships over time, across all companies and will provide information on a director’s involvement in what may be repeated unlawful activity, including illegal phoenix activity.

KEY POINTS

• A DIN will be a legal requirement for all new and existing directors to hold.

• A DIN is a unique 15 digit numerical identifier that an existing or intending director will apply for once and keep forever.

• Only one DIN will be issued to each individual, once their identity has been verified.

• The issued DIN will remain the same even if that persons stops being a company director, changes their name or moves overseas.

• This will apply to directors of a company, body corporate or corporation.

• It is not applicable to secretaries

• Alternative directors are also required to apply for a DIN.

• Directors must apply for their direct ID themselves. No one can apply on their behalf, including registered agents and accountants.

COVID Rules for Business

With the Federal and State rules regarding COVID differing across the country, and with some States applying rules regarding vaccinations to businesses, the Council of Small Business Organisations of Australia (COSBOA) has provided relevant links to the rules and regulations for each jurisdiction, which may be of assistance to members and their clients.

• Government support, rules & regulations

• Support from banks

• Mental Health Support

Take advantage of the IAWO and TFE schemes 

The Federal Budget 2021-22 saw the announcement that the schemes would be extended until 30 June 2022 (subject to enacting legislation being introduced into Parliament). 

CHANGES TO THE SCHEMES

• INVESTING IN NEW ASSETS 

• INVESTING IN SECOND-HAND ASSETS