Selling a Business

Selling a business is usually a massive process. It is usually a very pressing and demanding period where we as accountants are leaned on quite heavily. Below are a few things we generally advise clients on amongst many others:

  • If you are a company, if you can sell your shares as opposed to your company selling its business, you generally get a better tax result
  • Checking if you are eligible for the small business concessions as these are very generous; basic checks are your turnover is under $2m or your personal net assets are under $6m
  • Calculating your addbacks to ensure the business profit you are using to value the business is correct
  • Calculating any adjustment amount to the purchase price
  • Working hand in hand with your legal team to ensure we get the best result for you with as little ongoing liability as possible