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Everything he has said is correct under Australian corporate law.
My business, which was once a simple two-person partnership, had to incorporate (long ago) for precisely the reasons he is listing and you refuse to believe. When the other partner bows out and I'm running as sole trader, it will still be a company with protection provided I don't breach my duties as a director. For starters, Taddy, he has not listed any reasons. He appears not to even know why he did it. As for you, please explain who your duties are owed to if you are the sole owner and trader. Moreover, there are plenty of better ways to avoid this than the basic corporation, with all its inherent flaws. So come on, man, if your'e gonna get in the game, know which direction to run. The reason lies not with Oz's strangeness but withe the strangeness of the Australian corporation laws, and for that matter the strangeness of Australian taxation laws, which now run to 24 volumes or something ridiculous, so complex that only specially trained, tutored and accredited taxation accountants can cope with it, and only then when running on refresher courses every six months. One example should suffice. Were you aware an Assistant Taxation COmmissioner in Australia can make law which assumes your guilty and demands you pay up first before any contest of defence can be started? It's called a "determination" and while it can be over-ruled by a court, that may take a couple of years and several hundred thousand dollars to achieve. Big deal. The IRS has the same powers. So Oz is cheerily leading you on by stating nothing but the truth. He is stating nothing. Unless I missed it. Maybe you can tell me where he posted why he has incorporated so many ordinary functions. I am only asking him for an explanation of the benefits he is seeking, so I can then refute them or provide him with a better alternative. He seems to have done it based on advice without knowing why he did it. As the truth is so outlandish, you refuse to believe it, thus demonstrating your limitiations as a Googler. No Googling here, despite your suspicisions. |
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