eCentral Business Show©

Valuable insights from business experts.


Are my personal assets protected by having a company? Robert King, Xperion Accountants

Fri 10:00am 10 Aug 2018
Changes in policy have made it possible for negligent directors to be liable for the financial difficulties their companies experience. Robert King warns the directors of today to be more mindful, to keep on track, and to know your obligations.

Phoenix Companies— firms who start anew after failing to pay debts in a previous company—may have gotten away in the past, but company debts can adversely affect directors even retrospectively. Knowing your numbers like the back of your hand may be a good way to avoid such situations.

Being liable doesn't just apply in debts, but in safety operational systems as well. Most of us have heard of stories about directors paying a hefty price for negligence in health and safety standard violations. As a director, being responsible for the people in your company might as well be at the first page of the corporate director's manual (if such a thing exists). While you're at it, don't forget to pay your employees' Super and pay-as-you-go withholdings on time.

Assuming the role of a director in a company that is struggling financially can be dangerous and can even affect your personal life. Before making rash decisions, get specific and tailored advice—Robert King and his accountant friends can help. You can reach them through their website at www.xperion.com.au.

Disclaimer: The discussion presented in the video and its accompanying media are shared for general information purposes only. If any of the topics presented appeal to you in any way, please don't take it as advice but as a sign to call your accountant. The contact numbers of Robert King along with other qualified and experienced accountants from Xperion can be found in their website; that's www.xperion.com.au


Meet our resident experts

Robert King

Robert King

Accountant

Robert is a fully qualified Chartered Accountant, Registered Tax Agent & Xero Guru. He spends his time helping clients through all stages of the business cycle from setting up a business through to its eventual sale.

Laura Sillano

Laura Sillano

Mortgage Lending

Laura is a Residential Mortgage Broker with over 11 years experience. She is passionate about educating her clients about their options, and provides mortgage lending advice that is grounded by life experience.

Helen Baker

Helen Baker

Financial Planning

Helen Baker, founder of On Your Own Two Feet, is an experienced financial adviser and firmly believes in the benefits of having a strong team of professionals to underpin your financial foundations.



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