Small Business

We act for a Seller or a Buyer of small businesses. This may involve the sale of the actual business or business assets, the sale of shares in a company that owns the business or the transfer of units in a unit trust.

The Buyer should obtain taxation advice from a qualified accountant on the best structure for the deal and in the case of an asset sale, how the apportionment among assets is to be addressed. GST also needs to be considered. The sale of a going concern is exempt from payment of GST.

Some sales may involve the assignment of an existing lease or the creation of a new lease.

It is critical that the agreement giving effect to the sale is drafted only after a careful consideration of all the potential issues and risks relevant to the transaction.