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In Tasmania, 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 in TAS, simply start typing Tasmania 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 TAS. 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 Tasmania all business brokers must be licensed to operate on your behalf. The Property Agents Board of Tasmania oversees the licensing of real estate agents and business brokers. When you search for a business broker, you will need to open the PDF of the register and find the brokers name. It will then indicate their current business and the expiry date of their license.
State nomination is required to migrate to Tasmania on a business visa. The Business Migration Program aims to attract and leverage investments from high calibre foreign investors to help drive Tasmania’s economic growth.
Full details of business and migration visas available can be found on > Migration Tasmania.
In 2008, Tasmania removed duty on all assets in the sale of a business except the transfer of land according to the State Revenue Office of TAS. If stamp duty is applicable, it is payable within three months. You can obtain an estimate of transfer duty on this calculator. It's important to seek professional advice when buying a business, especially an accountant who will help you understand your tax obligations.