For the majority of small to medium sized business owners, the value of your business is your biggest asset, and very likely, your retirement fund.
Upon sale of your business it is critical you receive the maximum available net proceeds. However, many taxpayers miss this once in a lifetime chance through poor transactions planning and the holding of assets in inappropriate structures. Just because you consider yourself a small business does not mean you have automatic access to all available CGT concessions.
While the rules are complex, if the correct planning is in place, a husband and wife team can receive up to $4 million tax free after the sale of their business (If you’ve run your business for at least 15 years, all the sale proceeds might be tax free!)
After receiving your completed questionnaire, we will provide you with an initial report of advice for you to review and discuss with us.
For further information or advice on how our capital gains tax solutions can help secure your future, contact us today by email or phone on 03 5911 7000.