The thing with companies… The humble company form has for centuries been the legal personality favoured by entrepreneurs. Offering at once a sturdy vessel in which commingled funds can be pooled, and a shield against the downside risks of investment and malfeasance, the company provides a versatile tool with which Read more…
13Employer provides the car or pays employee’s car expenses A common fringe benefit provided to employees is a company car. However, for fringe benefits tax purposes there is an important distinction between the employer providing a car to the employee and the employer making payments on a car loan taken Read more…
Illegal phoenixing activity appears when the controllers of a company deliberately avoid paying liabilities by closing an indebted company and transferring the company’s assets to another company. That is, the business continues under the guise of a new company but the debts of the old company remain unpaid. This situation Read more…