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In the Northern Territory, there are many businesses listed for sale on Bsale. Buying an existing business allows you to buy elements such as established systems, processes, client databases, distribution channels, branding and more. To find a business for sale simply start typing Northern Territory into the location and hit ‘Go’; you can then narrow it down by keyword, category or price
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Capital gains tax applies to a business sale in Northern Territory. It's important to engage an Accountant who will guide you through the process of selling a business and assess your tax obligations. Exemptions may be available, and it's important to check the current requirements when you are selling a business. A helpful section on the ATO website outlines what happens when changing, selling or closing a business.
In the Northern Territory, all business brokers must be licensed to operate on your behalf. The Northern Territory Government oversees the licensing of real estate agents and business brokers. When you search for a business broker, you will need to enter their name or license number into the public register. Once you hit search, they should appear as ‘Real Estate and Business Agent’ and status ‘current’. You can then click their name to view more details which will show expiry date and previous employers.
Nomination by a Northern Territory government is mandatory for all visas in the Business Innovation and Investment Program except the Significant Investor Visa and Premium Investor visa. There are three visa subclasses and several streams in each visa subclass.Full details can be found on > The Territory.
Stamp duty is payable on business asset sales in the Northern Territory except the following: stock-in-trade (trading stock); manufacturing materials and work in progress manufacturing goods; livestock; motor vehicles; and cash Territory Revenue Office.
After the parties have signed the business sale agreement, stamp duty is payable within 60 days at the applicable rate. You can obtain an estimate of the transfer duty on this calculator.