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PPSR – Prevent not React

https://www.ppsr.gov.au/ppsr-business-guide-0

This is a guide on the PPSR or Personal Property Security Register is put out by the Government with assistance and input by some industry professionals. It is a great tool to start getting your head around the PPSR. It has a how to use, how to register, case studies, tips and is fairly user friendly.

PPSR is critical to your business – take some time to read this as getting it wrong, not knowing could be the coronary heart attack that you did not need your business to have!

A PPSR on a creditor can make you a secured creditor for 7 years.  It will also prevent you from being exposed to preferential payment claw back.

PPSR’s a wrongly considered as only being placed on vehicles and equipment.  While this is probably the biggest use of it, registrations can be over:

  • motor vehicles, boats or aircraft
  • crops, cattle and other livestock
  • stock in trade, artworks and equipment
  • other goods, new or second-hand, whether owned by businesses or individuals
  • intangible property, such as patents, copyright, commercial (not government-issued) licences, debts and bank accounts
  • financial property such as shares, cash or cheques.

A business as a whole and its invoices can also have a registration on them.

#ppsr #collectionconsultancyaustralia #protectyourself #justincase #cashflow #preventnotreact #personalpropertysecurityregister

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