Posts by Success Tax Professionals

Creating a profitable, successful business is tough. Statistically, 30% of businesses fail in the first year, and 70% within 10 years.

An Australian resident company is a foreign controlled Australian company if any of the following apply: A group of five or fewer foreign entities holds at least 50% in the Australian company.

A foreign company is an entity that satisfies the definition of ‘foreign company’ in section 9 of the Corporations Act 2001.

An unlimited public company is a public company whose members have no limit placed on their individual liability to contribute to the debts of the company.

A public company limited by guarantee is a specialised form of public company designed for non-profit organisations.

A no-liability company is a limited liability public company whose principal activities are restricted to mining or oil exploration.

Sexually transmitted debt is where one person in a relationship becomes responsible for their partner’s financial debts usually after being convinced or misled into taking on debt in their own name, sharing the responsibility, or taking on more risk than they knew about. Nationally, one in six women and one in 14 men have reported…