Avoiding GST in a Sale of Business
Amanda Crosbie
23 June, 2022
Avoiding GST in a Sale of Business To avoid having to pay GST on the purchase price in a sale of business, the sale must
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Don't gamble with your future. Get the right advice.
Don’t gamble with your future. Get the right advice, maximise your chances of business success and reduce the potential of a foreseeable risk costing you more than you can afford to lose.
Business Law and Company Law are 2 broad areas of law that cover legal issues and transactions relevant to businesses (including business owners) and companies (including directors and shareholders).
Unmanaged risks leave you exposed and reduce business value when it’s time to sell. Protect your business and maximise your chances of business success today.
We are constantly on the lookout for ways that we can benefit your business or eliminate or reduce risks and protect assets with our legal advice.
Structures
Whilst a company may carry on a business, a business may also be carried on by a sole trader, partnership or a trust. Similarly, shares in a company, real property and other investments may be owned by one or more individuals, trusts or companies.
Business Risk & Protection Strategies
It is important to ensure that the correct structures and shareholding are set up when the business is established as changes to ownership structures may have stamp duty and capital gains tax implications.
Once ideal structures are in place the focus for most businesses moves to the maximising business success and avoiding foreseeable problems. Risk assessment and business protection strategies, therefore, underpin most aspects of business and company law. Contract law also has a huge role to play in this regard.
Business Succession Planning
Finally, business and company law is concerned with the planning for the realisation of the value of an owner’s interest in the business or company by sale and succession planning.
Insolvency
If a business or venture does not turn out as planned and becomes insolvent, options to restructure the insolvent business or company may be available to enable the survival of the underlying business.
Overview
In summary, Business Law and Company Law is broadly associated with:
- ownership structures,
- business risk assessment and the implementation of risk mitigation and protection strategies,
- the regulating of decision making among business owners or company directors,
- agreements governing the relationships between business owners or company shareholders,
- corporate governance, directors’ duties and shareholders’ rights,
- insolvency and corporate restructuring, and
- the sale of businesses (including assets and goodwill) and the sale of shares in a company.
See “How We Help“ for specific examples of how we assist clients with Business & Company Law matters.
How We Can Help Solve Your Legal Matter
Start Up and Restructuring
- Structuring Advice
- Incorporation of Companies
- Establishing Family Discretionary Trusts and Unit Trusts
- Intellectual Property, Trade Marks and Business Names
Agreements
- Shareholders Agreements and Partnership Agreements
- Business Contracts and Terms of Trade
- Commercial Leasing and Retail Leases
- Employment Contracts
- Loan and Security Agreements
- Agency and Distribution Agreements
- Franchise Agreements
- Business Sale Agreements
- Asset Licence Agreements
- Confidentiality Agreement
Business Operations, Risk and Protection
- Business Risk and Asset Protection Strategies
- Tax Planning and Advice
- Business Dispute Resolution and Litigation
- Debt Recovery
- Insolvency and Corporate Restructuring
- Personal Property Securities
- Employment Law
Exit and Succession Planning
Call to speak to a Business & Company Lawyer.
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