Business exits can be in the form of a business sale or windup of an entity. A windup is often simple, however a business sale can be complex. Selling a business involve important planning considerations at the early stage of setting up the business. And these considerations need to be monitored throughout the life of a business as factors may change, such as business goals, business performance, personal goals, government policies or taxation rules.
Certain capital gains tax concessions are currently available to trusts and partnerships that are not available to company asset sales. However a company can currently cap its tax rate at 30% whilst other businesses structures can’t.
Don’t miss the opportunity to manage tax effectively and to maximise your wealth or retirement funds. So, speak to one of our trusted advisors now.