The Personal Property Securities Register (PPSR) is a national register enabling businesses to secure their interests over tangible and intangible assets such as transportation, intellectual property, licenses and shares. It commenced in January 2012, with a maximum of seven years registration; meaning that registrations that came into effect then, have possibly been automatically deregistered.
It is vital that you re-register your interest in assets or if you have yet to register, to do so now. In essential terms, registration of security interests protects against your customer’s insolvency and puts you, as a business, into a priority position against other lenders or suppliers.
The best time to secure your PPSR place is now. You can review and update your registrations by either extending (renewing), amending (altering) or discharging (eradicating) them.
If you require further assistance with respect to the above or would like to know more about PPSR, you are welcome to contact our team of experienced accountants by clicking here to submit an online enquiry form or call us on 1300 QUINNS (1300 784 667) or on +61 2 9223 9166 to arrange conference or appointment.