HIA Housing Industry Association - Asset Protection Seminar
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Transcript of HIA Housing Industry Association - Asset Protection Seminar
@business_DEPOT businessdepot businessdepot.com.au
HOUSING INDUSTRY ASSOCIATION – ASSET PROTECTION 17 June 2015 | businessdepot.com.au/buildingandconstruction
SICK OF MISSING THE MARK?[Grow your building and construction business on solid foundations with help from our industry experts.]
MICHAEL GARRONEHead of Building & Construction
- Contractors - QBCC- Small to medium [email protected](07) 3193 30020404 869 255
@mgarrone
BUILDING & CONSTRUCTION
• The industry
• The good, bad and ugly
• Before & after 2007
• All types of businesses
• Start-up, growing, sale or succession
• One man contractor to big business
WHAT WE WON’T COVER TODAY
• Running your business
• Key customer risk
• Contract size
• Contractual risk
• Supplier risk
• Debtor risk
WHAT ARE THE RISKS
• QBCC
• Licence
• Deeds of Assurance
• QBCC Insurance
• Statutory Warranty – 12 month & 6 years
WHAT ARE THE RISKS
• Directors liability
• Directors penalty notices – PAYG withholding & Superannuation
• Insolvency
• Workplace health & safety
• Personal guarantee’s
SECURITY + GUARANTEES
• Supplier accounts
• QBCC deeds
• QBCC insurance
• Bank debts – business / personal
PROTECTED TO THE MAXIMUM EXTENT POSSIBLE
• It isn’t criminal to protect your assets
• But last minute transfers might be different
• Accept the risks
AFTER
$1.5m Dividend
Company ATF Trust
Company
Company$1.5m Distribution
$1.5m Loan - Secured
$0.5m Retained Profits$0.5m QBCC Net Assets
Company ATF Trust
$1.5m Retained Profits
HOW DO WE DO IT
• 30 minutes free catch up face to face or email
• Working jointly with Nick Stone @ Stone Group lawyers:
• Review
• Implementation
WHO WE HELP – BUILDING AND CONSTRUCTION
• Residential & Commercial builders
• Contractors – Tiling, Air-conditioning, Electrical, Plumbing, Fencing – you name it
• High-rise
• Franchise groups
• Other accountants & advisors
WHO ELSE
• Real Estate
• Property Developers
• Small to Medium businesses – start-up, growing, big, sale or succession
THANK YOU!Let’s Get Social @business_DEPOT
businessdepot
businessdepot.com.au
Michael [email protected](07) 3193 30020404 869 255
businessdepot.com.au/buildingandconstruction
Josh [email protected](07) 3193 3051