Business

When Selling a Business you need to:

• Value the business properly.
• Identify the assests of the business that are being transferred including equipment, goodwill, stock, staff, leases, contracts, licences and real estate.
• Identify what leases can be transferred and what leases or loans need to be paid out.
• Work out your GST and Capital Gain Tax liabilities.
• Agree on a price and handover date.
• Get the deal put in writing by a solicitor.
• Do stocktake to ensure your stock, outgoings and other expenses are adjusted on settlement.
• Provide training before and after settlement.                            ORDER CONTRACT

When Buying a Business you need to:                

• Check the figures with your accountant to make sure the business is profitable.
• Work out GST liability and Tax base for future sale.
• Work out what you will own and what leases need to continue.
• Arrange finance if necessary.
• Exchange contracts after your are sure your finance will be available.                                                                                              INSURANCE 
• Ensure you are aware of what security or personal guarantees                 GUIDE       you need to give.                                                                                                  
• Arrange proper insurance for you and the business.
• Make sure any employees are properly terminated, paid out and re-employed under what conditions.                
• Be involved  in the stocktake before settlement and attend training.                                                                                                    BUSINESS
                                                                                                                   COACHING   

When Leasing a Property you need to:

• Agree with the agent on what is to be contained in the lease.
• Ensure your solicitor includes what was agreed by the agent in the lease.
• Ensure you have covered any GST liability and preparation costs which can't be claimed separately under a retail lease.
• Ensure the property is properly insured.
• The cost of fitout is usually the tenants.
• Maintenance of the Building is usually the cost of the Owner

 

When Preparing Employment Contracts you need to:

• Work out if you need to comply with all of the Fair Work requirements.
• Work out what awards apply to your industry.
• Work out if what you want to pay is more than any award.
• Work out if the National Employment Standards apply and if not, ensure the reason is contained in the agreement.
• Make sure your employment agreement complies with fair work and protects your business from all the wrongdoings of the employee.
• Ensure you supply an Information Statement.
• Make sure you are properly insured for legal cost against unfounded applications. 

                                                          
   FIND AN AWARD           NATIONAL EMPLOYMENT STANDARDS        FAIR DISMISSAL CODE
 

If you like our services just give our contact details to your Business Broker or Real Estate Agent, or call on 4388 6331 and set up an appointment for your legal needs in our friendly office at Killarney Vale.

Making Law Easy