There are some very generous tax concessions available to small business owners when they sell their business. But the rules around accessing the concessions are quite complex, and expert advice is a must.
In some circumstances, it can even be possible to pay no tax at all when you sell your business. This is why it’s critical to get the right advice.
To qualify for CGT concessions, you must have an annual turnover of less than $2 million, or your net assets must be less than $6 million.