William Buck Australia
As a fully integrated firm of Chartered Accountants and advisors, William Buck provides a complete solution. Putting you at the core of the business, our advisors work together to ensure that careful consideration is given to your business and personal wealth affairs.
Working closely with you and your team, our Business Advisors can help you plan and implement contemporary business strategies and practices to meet your business’s full potential.
Our commercially minded tax specialists offer clear, responsive advice to manage your tax risk, address local and international issues, and develop strategies to optimise your tax position.
Our audit team has extensive experience in a range of engagements, giving stakeholders independent and objective assurance on financial information, transactions and processes.
Our Corporate Advisory team provides objective, strategic and commercial advice across a broad range of business issues. Our work spans the breadth each engagement from the origination of ideas to managing the transaction process, valuation and structuring.
Our highly experienced team of liquidators and trustees use their extensive expertise to assist in times of financial distress, achieving the best outcome for all stakeholders.
By understanding not only what you want to achieve but why it’s important, our wealth advisors can create strategies attuned to your key priorities. The end result is a plan focused on your life goals.
The William Buck Hour could be the most profitable hour you spend this year.
Sweeping changes to financial reporting may impact your financial position and business operations.
Our experts are here to help you understand what you need to know about Safe Harbour legislation.
Check our Private Business Tax Reform resource centre to see how the most significant changes may affect you and your business.
William Buck has a team of professionals with specialist experience and know-how on a range of industry sectors.
Our advisors understand the risks and opportunities unique to the agribusiness sector. Taking a strategic view of your operations they provide relevant guidance and advice.
Assisting public and private schools, vocational colleges, universities and private training providers, our education specialists provide timely and valuable assurance services together with strategic, financial and management advice.
Our Government and public sector team has substantial experience in assisting all levels of government to review their structures and develop strategies, in line with relevant legislative requirements and accounting and audit standards.
Working with over 1,600 clients in the health sector, our advisors help practitioners and health care corporates achieve their business and personal goals
Our hospitality and tourism team has a working knowledge of the industry which, when combined with our technical knowledge, can assist you in reaching your commercial goals.
By staying on top of changes in the manufacturing sector, our industry experts provide relevant and timely guidance to a broad range of manufacturing business.
Our mining and energy team has the experience and resources to help start-ups, developing businesses and well-established companies to meet their commercial goals.
Integrity and transparency are at the heart of the best Not for Profit organisations. These values re shared by our dedicated Not for Profit team, which helps entities to establish to improve performance and develop strategies for long-term growth.
Our advisors understand the challenges and opportunities facing the professional services sector first hand. This experience together with our expertise helps to determine your strategic objectives and provide concise, relevant advice to help you achieve your goals.
Our property and construction team assist on a wide range of assignments from property development to construction and large infrastructure projects. Their diverse experience, technical expertise and commercial know-how to help you tackle the important issues.
Our retail and wholesale team works with a variety of businesses from family owned operations to franchises and larger chains, to provide advice and guidance on the issues that count.
Our transport and distribution team works with businesses to review their operations, improve efficiency and productivity and ensure compliance with the latest regulatory developments.
The William Buck Health Hour could be the most profitable hour you spend this year.
We work with individuals, businesses and community organisations with a particular focus on the mid-market. Drawing on our extensive experience, our advisors will challenge your thinking and re-frame problems to understand their root-cause.
We’re more than just accountants and advisors, we aspire to create positive change in the lives of our clients and our people.
Life as a CFO can be complex, exciting and demanding. Combining technical excellence with decades of working closely with and listening to the needs of CFOs, our advisors understand the competing demands of your role.
Whatever your needs, we have the expert resources to create the best outcome for you and your business. As our client, you’ll benefit from our integrated services model that puts you at the core of its business.
We create and implement personal wealth plans and tax strategies that give our clients greater certainty that their financial and personal goals will be met.
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Our professionals are experts in their fields and are skilled at providing jargon-free, practical and comprehensive advice, allowing you to get to the heart of your matter.
Interested in joining our team? We have positions across Australia and New Zealand for forward thinking, enthusiastic, intelligent individuals.
Looking to join a team that offers more than just co-workers? We’re proud to have built a firm which engenders loyalty and provides an environment in which life-long professional connections and friendships can flourish.
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We offer a workplace where striving for excellence and being supported to achieve your professional and personal best, are par for the course.
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We foster a dynamic and respectful work culture, where growth and development are encouraged, and initiative is rewarded.
We’re committed to recruiting outstanding people. Our culture is built on respect and team work, making William Buck a great place to develop a rewarding career. From day one, you will be given every opportunity to realise your full potential.
We boast a culture that values each individual employee as an essential part of the team and places a high priority on helping you reach your full potential, personally and professionally.
Hello. Kia Ora. Talofa. Ni Ho. However, you say it, there’s always a warm welcome at William Buck. Creating an enjoyable environment to spend our days is part of our master plan to create an exceptional place to work.
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Established in 1895, we’re more than just advisors; offering a full range of services and 360 degree support, we aspire to create a positive change in the lives of our clients and our people.
As a member of Praxity, the world’s largest international accounting alliance, our local team is supported by our extensive network, representing an unrivalled global resource and knowledge pool.
From Western Australia, to New Zealand; and everything in-between; check out our offices, and local team, representing an unrivalled global resource and knowledge pool.
The old saying that “possession is nine-tenths of the law” appears to be more relevant now than ever, with a recent case confirming that even if you can prove beyond any doubt that you own a particular asset, it can still be sold to satisfy debts of another person. Not only is this concerning for clients, but also for accountants who are potentially advising clients to structure their affairs in a particular manner on the basis of anticipated asset protection benefits (which may no longer be available).
Many of the asset protection and structuring strategies which were commonly implemented in the past now require re-consideration as a result of the introduction of the Personal Property Securities Act 2009 (“PPSA”) with effect from 30 January 2012.
Under the PPSA laws, interests in property are required to be registered on a central register (the “PPS register”). The PPS register is found at www.ppsr.gov.au.
Under the PPSA laws, if your asset is in the possession of another entity, it is necessary to register your interest in the asset on the PPS register in order to have an enforceable right over the asset in the event of bankruptcy or liquidation of the other entity. The PPS register is used to determine those entities which have an entitlement to assets, and the priority in which creditors are paid, in an insolvency event.
The PPSA system harmonises and replaces various pre-existing systems, including fixed and floating charges over company assets (which were registered with the Australian Securities and Investments Commission) and the Register of Encumbered Vehicles (“REVS”). The main exclusion from the PPS is interests in land and buildings, which continue to be registered in the existing systems.
Further information regarding the PPSA laws can be found at www.ppsr.gov.au.
The first significant Australian case in relation to the PPSA laws was handed down by the Supreme Court of NSW on 27 June 2013 (Maiden Civil (P&E) Pty Ltd and Ors v Queensland Excavation Services Pty Ltd and Ors  NSWSC 852).
Queensland Excavation Services Pty Ltd (“QES”) obtained finance from Westpac and Esanda to acquire construction equipment. The equipment was leased by QES to Maiden Civil (P&E) Pty Ltd (“Maiden”) for civil construction work in the Northern Territory. QES did not register its interest in the construction equipment on the PPS register.
Maiden subsequently obtained finance from another entity, Fast Financial Solutions Pty Ltd (“FFS”), which registered a general security interest over the assets of Maiden on the PPS register.
When Maiden defaulted on its finance obligations, receivers were appointed and Maiden was subsequently placed into creditors’ voluntary liquidation.
In determining the manner in which Maiden’s creditors would be paid, FFS’s registered security over the company’s assets was given priority over the company’s other (unregistered) creditors.
Even though QES was the true owner of the construction equipment (a point which was accepted by the Court and not disputed by any of the parties), the liquidators were required to satisfy FFS’s registered interest in priority. Maiden’s assets (including the construction equipment owned by QES) could be sold by the liquidators in order to discharge these secured interests.
As accountants and advisors, it is essential to have a good working knowledge of the PPSA provisions. In particular, it is important to have a good understanding of when a security interest needs to be registered.
If an entity carries on a business and its assets are in the possession of another entity, it will be important to register the interest in those assets on the PPS register. Failure to register your interest may mean that, if the other entity goes into insolvency (or bankruptcy), your assets may be sold to satisfy the debts owing to other parties who have registered their interests on the PPS register. This is the case even if you can prove, beyond any doubt, that you are the legal owner of the asset.
Common circumstances where registration of interests on the PPSR register should be considered include:
It is important to recognise that advice about the PPSA provisions is likely to be considered of a ‘legal’ nature and thus accountants and advisors may be restricted in the advice that they can provide on this topic. Your local William Buck advisor can direct you to a lawyer who specialises in the PPSA laws.