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Buying a business in South Australia has a number of steps. Whether you are buying in the capital city region of Adelaide or a country town like Mount Gambier it's important to understand the process.
Bsale has put together a helpful guide to assist you in your journey to buy a business in SA.
In South Australia, there are hundreds of 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 South Australia 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 South Australia. 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 South Australia all business brokers must be licensed to operate on your behalf. The South Australian Government oversees the licensing of real estate agents and business brokers in SA. When you search for a business broker they appear under land agents as they are licensed real estate agents. You will need to enter their name or license number. It will then appear as ‘Land Agent’ and ‘Licensed’; you can also click to view more details.
State or Government nomination is required if you wish to migrate to SA on a business visa. It is important to work with a business broker and migration lawyer to ensure you are meeting the visa’s eligibility requirements.
Full details of current visa options > Skilled and Business Migration SA.
Stamp duty no longer applies to the sale or transfer of a business in South Australia. It was abolished on 18 June 2015 by Revenue SA. However, stamp duty will still apply on the transfer of land or a motor vehicle that is included as part of the sale of a business. Stamp duty is payable within two months. If you are transferring land, you can obtain an estimate of the stamp duty payable on > Revenue SA.