What is the PPSR?

What is the PPSR?

  • The Personal Property Securities Register (PPSR) is the Government based system to have effective security and title over essentially every kind of Asset.
  • The PPSR is a way better system of securing assets compared to the old rules if and only if you are proactive and have your assets protected by a PPSR registration.
  • In the event of a customer refusing to pay, a PPSR will give you a negotiating tool as you become a secured creditor.
  • PPSR registrations get paid in order of the date of registration. Therefore, it is essential you act quickly before your competitors get in before you.

 

Who Does it Effect?

  • Individuals or companies that have any of the following Assets or Liabilities,
  • * Loan Account, * Accounts Receivable, * Plant or Equipment, * Contract rights, *Plant and Equipment, * Cars – Boats- Planes – Art, * Crops and Livestock, * intellectual Property, * Trading Stock
  • Almost all businesses who have trade accounts have experienced a customer not  paying their account.
  • Without a PPSR registration you do not have security over your assets.

 

Why Register?

  • Without a PPSR registration you do not have security over your assets.
  • Without a PPSR registration your assets are exposed
  • Liquidators are taking people’s assets if they are not PPSR registered and/or appropriately documented.
  • According to ASIC’s statistics, small to medium business failures are on the rise. So it stands to reason, it’s not a matter of if you will be effected by a business failure ??— It’s a question of when?

 

Why Use PPSR Asset Protection?

  • PPSR registrations have to be done correctly to be valid and the correct documentation is a necessity.
  • Unless the user is familiar with the definitions and terminology of the Government web site experience has demonstrated that a simple mistake will cause the registration to fail. In the recent landmark case of  “Maidens” over 800 of the 1,000 PPSR registrations failed because of incorrect self entries.
  • Peace of mind!
OLD RULES: OWNERSHIP was king (so long as you could prove it)
NEW RULES: Since January 2012 if you don’t have your interests registered on the PPSR then you have no rights to your own assets not in your possession

Added Benefit:

  • With a PPSR registration you can use it as a tool in negotiating better outcomes with creditors and debtors as you go from an unsecured creditor / debtor to a highly ranked secured creditor / debtor.