Like many initiatives in business, it pays to plan and implement strategies early to optimise gains at crucial times. Here OBT illustrates how involvement at the planning stages of a business sale helped one couple make the most of their transition into retirement.
Our client – a dynamic business partnership consisting of a husband and wife – had been operating a successful hardware business for many years. Nearing retirement they, like many business owners, wanted to get as much value from the sale of their business while reducing the impact of tax on the transaction.
By engaging specific additional services from OBT, the business had quality management accounting reports produced for a number of years prior to the sale which demonstrated excellent ongoing profitability.
As a result of OBT’s early involvement in the lead-up to the sale of the business, we secured a very attractive sale price for our clients. And, by identifying and utilising the small business concessions available under the tax act, OBT were able to rollover the proceeds of the sale into a super fund ensuring no tax was payable on the sale.