ATO debts and asset registrations on the Personal Property Securities Register (PPSR) are two important and timely issues that mining businesses are struggling with. Murfett Legal provides advice, assistance and representation to mining and mining-services businesses in such matters.
Tax-related issues are all the more prevalent in business recently, including instalment payment arrangements, demands for payment by the ATO, court action, directors penalty notices and the threat of liquidation as well as ATO audits and objections against assessments.
Murfett Legal can assist with comprehensive tax advice about your liabilities and/or representation to dispute a tax debt, including negotiations or defend court action. Its lawyers have considerable experience in tax; some previously worked at the ATO, lectured in tax law at universities and conducted tax-related court matters.
The firm’s tax team is also equipped to deal with the most complex tax advice for business transactions including international tax, corporate and M&A taxation, income tax, capital gains tax, GST and stamp duty obligations, taxation of trusts and succession planning in the most cost-effective manner.
The team is dedicated to helping clients respond to demands by, and audits and disputes with, tax authorities, and works closely with clients and their advisors to protect the client’s commercial and tax position – both during the audit process and when there is a dispute over correct tax liability.
Many mining companies are now aware that, since 2012, they could lose their own assets and equipment if they hired or leased them out and failed to register their interest on the national Personal Property Securities Register (PPSR).
For example, if a company that hires equipment enters into liquidation, the equipment owner may only be able to recover the equipment if the owner has made valid security registrations on the PPSR. If not, the liquidator becomes the effective owner of the hired equipment and is generally entitled to sell it and keep the funds for creditors.
Murfett Legal is highly regarded as a technically excellent yet personable law firm and has assisted many clients with PPSR issues.
“The concept of ownership of the equipment is no longer paramount in these cases,” Murfett Legal’s Hamish Scott said.
“Many owners are baffled when a liquidator explains they no longer own their equipment, and to add insult to injury, liquidators often offer to sell the equipment back to the ‘previous’ owner as the most likely purchaser.”
Mr Scott said the registration fee payable to AFSA could be as little as $16 for two valid security registrations. Murfett Legal is able to provide advice, assistance and training, as well as representation in PPSR disputes.
For more information call + 61 8 9388 3100 or visit www.murfett.com.au/
7 Tully Road, East Perth WA 6004
P.O Box 6314 East Perth WA 6892