Company directors need to keep in mind that the Corporations Act holds directors personally liable for many of the legal and financial obligations expected from a company (see the relevant section of the law here).
As a taxpayer, if you use your own car for work purposes, you can claim a tax deduction using one of two methods — the cents per kilometre method or the logbook method.
A business contract to purchase a business is a legally binding agreement between the purchaser and the vendor. Although the contract can be verbal, a written contract is recommended as it provides proof of what was agreed upon.
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