If it all falls down I am not personally liable providing I have not
breached my duties as a director. ie trading when insolvent.
Good eh?

Without knowing the specifics, Skitchy is ****ing into the wind suggesting
any
part of your situation is not "proper."

Proper has nothing to do with it, Bob. His statement above is correct,
except
he fails to note that he would also be personable liable if the corporate
shell
is a mere instrumentality of his, which it appears to be. This ain't ****
into
the wind, rather **** on a stupid ownership structure.

OK Kitchy, maybe you could show us your accountancy degree.
Oh, BTW my niece is an associate and very soon will be a partner
"in one of the biggest accounting firms in Oz"
Not AAR I'm afraid.......

As I've said AAR is not an accounting firm and you not being aware of them
indicates you are a small fry. No problem with that, but nothing wrong with
getting good advice. You should have your niece look over what you are doing.
Maybe then you'll see the light. You probably have a one or two man shop
handling your work now, which often results in less than efficient structures.
But to each his own - pay double taxes if you want I dont' care.

G'day and good luck.