Guarantees are used in a variety of situations to secure a loan, lease or the performance of a contractual obligation. However, if you are considering becoming a guarantor, it is important you understand your responsibilities under the agreement, as there are certain risks involved. What is a guarantor? An individual or company that ensures the […]
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As the owner of a private company, it’s normal – and completely legal – to borrow money from your business. However, thanks to Division 7A of the Tax Act, failing to properly record that loan could land you in some serious strife come tax time. Here’s how it works, and how to avoid its impact […]
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The PPS (Personal Property and Securities) Act works as a comprehensive code and framework governing securities taken over personal property. If you are in the manufacturing, wholesale and retail industries then you will be particularly affected by these changes. The practical ramifications of the PPS Act are becomingly increasingly apparent in light of recent cases, […]
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Borrowing or lending money whether it be between family, friends or business associates may seem benign. But in reality, it is best to treat loans as strictly business. This means recording your agreement in a form that is legally binding – that is, in writing and validly signed. Discussing the terms and conditions of the […]
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We have all heard that Cashflow is the lifeblood of any business. It keeps the doors open, the bills paid and the stress down! If your business is squeezed by a lack of cashflow then you might be relying on an overdraft or other loan to keep the doors open, which costs you interest every […]
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