As we start to wind down and 2021 comes to an end the news we’ve all been waiting for has finally been announced. International borders are starting to open and students will begin to return to our shores. This will see many of us ramping up in 2022 and some looking to purchase RTO’s. In an interview with The VET Sector David discusses the importance of having a professional Due Diligence completed.
The Return of International Students
As 2021 comes to an end the announcement that our international borders are beginning to open could not come quick enough. Let’s hope 2022 will see the once prosperous international student market return. The return of International students will have far reaching positive impacts on the Australian economy and society as a whole. Each state has announced a Student Arrival Plan to allow the return of international students. It’s time to ramp up and prepare for the new year.
Buyer Beware – Due Diligence
If you’re considering buying an RTO we can not stress the importance of doing your Due Diligence (DD). In a recent interview with The VET Sector our Principal, David Jepsen discusses amongst other things the importance of having a professional DD completed prior to purchasing an RTO. David discusses what you can expect from a DD and what the pitfalls can be of not having a professional DD completed prior to purchasing an RTO.
‘The ultimate objective is to ensure the RTO financial position is as the seller’s state in their financials; the process is like a financial audit. We want to check that you are buying the RTO you think you are. Many buyers don’t undertake DD as it is a cost that may be large compared to the purchase price; the potential consequences and costs of not undertaking DD when you purchase a RTO can be much larger than the purchase value as the buyer inherits the past of the RTO including any compliance, legal and financial issues, and risks.
Our DD findings have saved clients millions.’
If you’d like to discuss how we can help please contact us today.
All current and future company directors will need to apply for a Director ID as per the following dates:
31st October 2021 – if you are a director on or before this date you must apply by 30th November 2022
1st November 2021 – 4th April 2022 – If you become a director between these dates you will need to apply within 28 days of your appointment.
5th April 2022 – If you become a director after this date you will need to apply for your Director ID before registering a company.
The number will be used to identify you as a director for all of your companies.
For more information and how to apply: https://www.abrs.gov.au/director-identification-number