Follow us:
CONTACT US
  • We know our clients' businesses inside out...
  • We know our clients' businesses inside out...
  • Our team is here ready to help you...
  • We know our clients' businesses inside out...
  • We know our clients' businesses inside out...
Client Login
Please enter your details below to login to our secure client area. If you would like to register for access, click here.
Username:
Password:

Welcome to the Thorntons Blog!

Client Alert - PPSR


What is the PPSR?

The Personal Property Securities Register (PPSR) is a national database that stores details of security interests registered against personal property.
The register is administered by the Insolvency and Trustee Service Australia (ITSA) and is searchable by consumers and businesses alike.

Examples of personal property

Personal property is a legal term for any property that is not land, buildings or fixtures. Examples are:
• 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.

Why use the PPSR?

When selling goods on retention of title or consignment

Making a registration shows searchers that you are claiming an interest in the goods or assets you are selling on retention of title terms, or have consigned to someone else to sell on your behalf. This interest means the goods or assets secure the debt or obligation that someone owes you. The registration protects your interest in the goods or assets should the customer default or go broke.
If you don't make a registration on those goods or assets and your customer goes broke before they have fully paid you, your stuff may be sold to pay secured creditors first. If you are not registered, you will be an unsecured creditor in an insolvency and may not recover much, if anything, of what you are owed.
If you register as early as possible, you stand the best chance of being first in line over other creditors. It also helps you to protect your interest even if the goods or assets are sold on, mixed or installed onto other goods.

When leasing, renting or hiring out goods

If the lease or hiring arrangement was entered into on or after 20 May 2017 and is for at least two years, or an indefinite period that will last for more than two years, then this applies to you.
If the lease or hiring arrangement was entered into before 20 May 2017, see Leases and Bailments for more information about how this applies to you.

Think you're already covered with a contract?


A retention of title clause (indicating that title remains with you until goods are paid for in full) in your contract or invoice, no longer protects you on its own.
If you don't make a registration, your retention of title clause is unlikely to stack up against others when you need to rely on it.
In other words, someone else who has registered an interest is ahead of you in the queue should your customer default or go broke.
Make sure you back up your contracts by registering your interest.

If you need assistance you should refer to the National Service Centre for assistance, or alternatively call us.

For more general information take a look at the PPSR website here


Our Key Services
  • Accounting, Taxation
    and Other Compliance

    Our team of professionals will ensure your business complies with Australian tax, company and employment legislative requirements. Read more +

  • Specialist Tax
    Consulting

    Our experienced team is available to provide answers to a broad range of questions in all areas of tax. Read more +

  • Superannuation
    Estate & Succession
    Planning

    We help our clients manage their future through providing practical advice and taking care of superannuation, estate and succession planning. Read more +


  • Business Valuations

    Valuations are vital when making strategic business decisions. Read more +

  • Business Planning
    & Structuring

    We offer full entity structuring advice and guidance and will assist you in finding the best way to structure both your business entities and personal holdings. Read more +

  • Business Development
    & Mentoring

    Our team are passionate about helping our clients achieve business growth through development and implementation of effective business growth strategies. Read more +

Client Testimonials

Thornton's have constantly provided service of the very highest level, are responsive to our needs and are progressive in their offerings without ever being pushy. Importantly, the people we need to speak to are always available when we need assistance or advice on a range of matters and deliver when they say will. They are one of our most trusted partners in business...

Daniel Colgan, Director, Colgan Industries Pty Ltd

Read more +

Our company has found Marie and the team at Thorntons to be extremely helpful in their approach to our business. They are always ready with a reply to our emails or phone calls. Nothing is too much trouble for Marie and the team, they go above and beyond to help us with our taxation. I would recommend them anytime.

Splitrock Farming Co., Kerry Robinson

Read more +

Thorntons has been our business and accounting advisors for more than a decade. Thorntons team of dedicated and experienced staff ensure all of our financial requirements are addressed in a professional and timely manner. No issue is ever too big or small and it has been a pleasure working with them as our family business has grown over the past thirteen years.

Keryn McKinnon, Business Manager, Duraseal

Read more +

On behalf of Aquatec I would like to say that getting Thornton’s to provide management reports and business consulting has been the best thing we ever did. Moving from a “standard” accounting practice that wasn’t really giving us any proper advice to Thornton’s helped us transform our business and gave us a crystal clear picture of our business health on a month to month basis. Overall a great company to work with, would highly recommend them.

Andy Baker, General Manager, Aquatec Equipment

Read more +

I work collaboratively with Troy, Marie and their team in the areas of estate planning, farm succession planning and related party property transactions. Troy and Marie’s attention to detail and professionalism are of the highest standard and they work hard to attain practical and viable business solutions for their clients. They are both clear communicators, accessible and a pleasure to work with.

Julie Murray, Solicitor, Yarramundi Law

Read more +

Over the 5 years that my company has been a client of Thornton's, I have been extremely happy with their level of expertise and service. All of my enquiries have been dealt with in a timely and friendly manner. I would have no hesitation in recommending their services.

Hamish Pryde, Director, GlobalSD Pty Ltd

Read more +