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Two Cautionary Tales About Resources Important to Anyone Using a Domain Name or Website

Two Cautionary Tales About Resources Important to Anyone Using a Domain Name or Website

 

1. Not renewing a domain name you want to keep

This warning is new, but the reason for forgetting to renew a domain name isn’t.

Today, a domain name is one of the most important digital assets a practice has, yet far too many practices still risk what happened in this story.

Domains are generally registered for periods of two to five years. During that time, people move on, email addresses are lost, IT support arrangements change, and contact details become outdated. The result is that domain renewal notices can fail to reach the person responsible for the domain.

If a domain expires and is subsequently deregistered, someone else can potentially take ownership of it.

In this case, a practice failed to renew its domain name on time. In the past, it was often possible to renew a domain after it had expired and everything would be OK. That is the part that has changed.

In this instance, GoDaddy took control of the domain after it mistakenly expired. That should still have been recoverable. But this time, the registrar would not allow the practice to renew the domain unless it paid almost $3,000 to ‘buy’ it back.

BEWARE. We have never seen this before. It appears to create a new potential income stream for domain registrars, so make sure you know where your domain records are held and keep a close eye on them.

2. Images used on a website without copyright authorisation

This has been an issue for the past two decades, but it has raised its ugly head again.

The issue concerns copyright ownership of images used on websites. Twice in the past few months, our clients have been contacted by a new player in this area called COPYTRACK.

On both occasions, COPYTRACK wanted our clients to pay several hundred dollars for alleged copyright infringement. While image copyright is important, in these particular cases, we believe the claims are most likely to be unfounded. Each time, the images in question were covered by our Getty Images subscription, which we maintain for our clients to help protect them from copyright infringement claims.

We know of others who have paid up to $2,500 per image to settle similar infringement claims.

In any case, always make sure your website developers are using images appropriately licensed for your use and that you have evidence of that authorisation. This can help protect you from unnecessary copyright claims.

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Doug Tarrant

Doug Tarrant

Principal B Com (NSW) CA CFP SSA AEPS

About Doug

As founder of the firm Doug has over 30 years of experience advising families, businesses and professionals with commercially driven business, taxation and financial advice.

Doug’s advice covers a wide variety of areas including wealth creation, business growth strategies, taxation, superannuation, property investment and estate planning as well as asset protection.

Doug’s clients span a whole range of industries including Investors; Property and Construction; Medical; Retail and Hospitality; IT and Tourism; Engineering and Contracting.

Doug’s qualifications include:

  • Bachelor of Commerce (Accounting) UNSW
  • Fellow of the Institute of Chartered Accountants
  • Certified Financial Planner
  • Self Managed Superannuation Fund Specialist Adviser (SPAA)
  • Self Managed Superannuation Fund Auditor
  • Accredited Estate Planning Specialist
  • AFSL Licensee
  • Registered Tax Agent
Christine Lapkiw

Christine Lapkiw

Senior Associate B Com (Accounting) M Com (Finance) CA

About Christine

Christine has over 25 years of extensive experience advising clients principally on taxation and superannuation related matters and was a founder of the firm when it began in 2004.

Christine’s breadth and depth of knowledge and experience provides clients with the comfort that their affairs are in good hands.

Christine currently heads up the firm’s SMSF division and oversees a team that provide tailored solutions for clients and trustees on all aspect of superannuation including:

  • Establishment of SMSFs
  • Compliance services
  • Property acquisitions
  • Pension structuring
  • SMSF ATO administration and dispute services

Christine’s qualifications include:

  • Bachelor of Commerce (Accounting)
  • Member of the Institute of Chartered Accountants
  • Master of Commerce (Finance)
Michelle Jolliffe

Michelle Jolliffe

Associate - Business Services B Com (Accounting) CA

About Michelle

Michelle has been with the firm in excess of 18 years and is an Associate in our Business Services Division.

Michelle and her team provide taxation and business advice to a wide variety of clients. Technically strong Michelle can assist with all matters in relation to taxation covering Income and Capital Gains Tax; Land Tax; GST; Payroll Tax and FBT.

Michelle is an innovative thinker and problem solver and always brings an in-depth and informed view to the discussion when advising clients.

Michelle has considerable experience with business acquisitions and sales as well as business restructuring.

Michelle’s qualifications include:

  • Bachelor of Commerce (Accounting)
  • Member of the Institute of Chartered Accountants
Joanne Douglas

Joanne Douglas

Certified Financial Planner and Representative CFP SSA Dip FP

About Joanne

Joanne commenced with Level One in 2004 and has developed into one of our Senior Financial Advisers.

With over 20 years of experience, Joanne and her team provide advice across a wide variety of areas including: Superannuation; Retirement Planning; Centrelink; Aged Care; Portfolio Management and Estate Planning.

A real people person Joanne builds strong long term relationships with her clients by gaining an in-depth knowledge of their personal goals and aspirations while providing tailored financial solutions to meet those needs.

Joanne’s qualifications include:

  • Certified Financial Planner (CFP)
  • Self Managed Superannuation Firm Specialist Adviser
  • Diploma of Financial Planning

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The information contained on this web site is general information only. You agree that your access to, and use of, this site is subject to these terms and all applicable laws, and is at your own risk. This site and its contents are provided to you on “as is” basis, the site may contain errors, faults and inaccuracies and may not be complete and current.

It does not constitute personal financial or taxation advice. When making an investment decision you need to consider whether this information is appropriate to your financial situation, objectives and needs.

Level One makes no representations or warranties of any kind, expressed or implied, as to the operation of this site or the information, content, materials or products included on this site, except as otherwise provided under applicable laws. Whilst all care has been taken in the preparation of information contained in this web site, no person, including Level One Taxation & Business Advisors Pty Limited, accepts responsibility for any loss suffered by any person arising from reliance on the information provided.

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