Investment: * Business $1,667,000 + Sav * Property $1,100,000 This Very Attractive Iga Supermarket Has Monopoly Trading In Triabunna. Situated Only 85 Kms From Hobart Cbd. The Business Has Operated Continuously For 80+...
$1,500,000 WIWO Freehold
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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, there are currently 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 in the TAS, simply start typing Tasmania into the location and hit ‘Go’; you can then narrow it down by keyword, category or price. It's a good idea to save your search results and listings so you can easily find them later. Once you have found a suitable business, you can contact the seller via the form. They may request you complete an NDA to keep the business details confidential. You can then discuss the business further and conduct due diligence.
Selling a business in Tasmania can be done by the business owner or by engaging a licensed TAS business broker or real estate agent. It is important to have an exit strategy for your business to increase your chance of obtaining an optimum sale price for the business. Check out Bsale’s 6 Steps to prepare a business for sale; it will provide a check-list and general step by step guide. There are licensed business brokers in TAS who can assist during the sale process and list your business on websites such as Bsale. Check out our ‘find a business broker’ section to find a broker to sell your particular business. Bsale offers advertising to business owners, brokers and franchise groups.
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. You can check a TAS business brokers license here.
The Business Migration Program aims to attract and leverage investments from high calibre foreign investors to help drive Tasmania’s economic growth.
Business Innovation and Investor Program subclass 188/888 visa
If you are a successful business person and want to establish a business in Tasmania, manage a new or existing business, or invest in Tasmania, you can apply for a Business Innovation and Investor program visa, subclass 188. This is a two-stage visa program which provides a pathway to permanent residency on a subclass 888 visa.
Business Talent subclass 132 visa provides immediate permanent residency for high-calibre business owners. It is designed for high calibre business people who aim to have a major management role in establishing or developing a business in Tasmania, or for people who have obtained at least AUD$1 million in funding from an Australian venture capital firm to be used in a Tasmanian project. Applicants must be less than 55 years of age (unless approved by the Tasmanian Government if your proposed business will be of exceptional benefit to Tasmania).
Interim allocation of 188 and 132 nomination places
The Department of Home Affairs has issued an interim allocation of subclass 188 and 132 visa nomination places to states and territories. These allocations will be updated after the 2020-21 Federal Budget is handed down in October. The Department of Home Affairs has directed that until this time, every business nomination must be a high quality nomination application that supports Australia’s COVID-19 recovery effort.
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.
Bsale makes it easier for buyers to find a suitable business by allowing them to search via a specific suburb or region. As the TAS is a small state, there are just two regions Hobart and Launceston.