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Services
Wills & Estates
Estate Planning
Testamentary Trust Wills
Power of Attorney
Advanced Health Care Directives
Estate Administration
Probate
Letters of Administration
Family Provisions Applications
Conveyancing
Property Law
Business Law
Family Law
Property Settlements
Divorce
Mediation
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Frequently Asked Questions
Do I have to pay GST on the sale of my business?
Well that depends. To be entitled to claim a ‘Going Concern’ exemption from the payment of GST the business must meet the requirements of the Australian Tax Office. The basics of this is that you must be carrying on an enterprise up to and including the day of settlement and you must provide all things necessary for the Buyer to continue trading after settlement.
I’m looking to buy a small business, what should I do first?
It might come as a surprise, but the first thing you should do is seek legal and financial advice. The reason for this is that the operation of a business can be conducted in one of many different legal entities. The ‘structure’ of your business operation can have asset protection, liability protection and taxation implications.
Evolution Legal