Your business is successful but do you have a succession plan installed and ready to go in the event of unforeseen illness, exit or death? What do you need to consider? The sale or transmission of the business assets – who pays for it and can they afford it? What is the mechanism for dealing with the exiting party,and who values the share of income/assets? These are just a few issues that succession strategies will need to consider.
This presentation covers following issues:
- types of buy/sell agreements, including mandatory, conditional and put/call options
- various funding tools, including insurances and ownership of these
- tax issues, including deductibility, CGT, FBT, Div 7A and stamp duty
- the use of SMSFs.