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Sale of a Business

Published on 27 Mar 2008 | Took place at Perth Convention Centre, WA

This seminar examined the tax implications that arise in the sale of a business. It looked at major tax issues faced by the seller, including CGT, income tax and GST. This seminar also dealt with stamp duty implications for the buyer and discussed relevant commercial issues when buying a business.

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Individual sessions

Income and capital gains tax issues

Author(s):  Marc WORLEY

When selling a business the vendor needs to consider a number of tax issues in order to maximise their after tax return. This paper highlights some of the more significant income tax and CGT issues that may arise from the sale of a business.

Materials from this session:

GST and the sale of a business

Author(s):  Tony INCE

This paper covers:

  • GST-free treatment of the supply of a going concern (which is fraught with danger)
  • does the sale of a business form part of your GST turnover? What are the implications of this?
  • why would vendors want to apply the "supply of a going concern" provisions?
  • what if you supply things other than those that are necessary for the enterprise to continue? Will they be GST-free as well?
  • what is the GST position if the purchaser assumes liabilities as a condition of sale?
  • what if you "supply" other things as part of the sale? How are they treated for GST purposes?
  • stamp duty issues for the purchaser, especially in the context of the Duties Bill 2007 which is expected to be implemented from 1 July 2008.
Materials from this session:

Why acquire a business?

Author(s):  Nick HOLLENS

This presentation covers commercial factors when purchasing a business, including:

  • how to determine whether the business is an appropriate fit
  • how to determine a value for the business
  • how to approach due diligence
  • typical representation and warranties that a buyer should seek.
Materials from this session: