Selling a Business? How to Minimise Tax and Maximise Super

When selling a business or large rural asset, the very first priority is understanding the capital gains tax implications and working closely with your accountant to access small business CGT concessions. If you qualify for the 15-year exemption, you can contribute up to the lifetime CGT cap, allowing substantial funds into superannuation per individual. Maximizing superannuation is always priority number one because a significant portion of those funds can generate tax-free income in retirement. From there, the choice of structure for any remaining sale proceeds depends entirely on how much income will be generated outside superannuation. There is a lot of unnecessary noise around complex structures, but keeping it simple in joint names is often completely appropriate when non-super income is modest. For larger amounts of ongoing income, family trusts and company structures certainly have their place, but superannuation remains the ultimate foundation. General Advice Only. Robert Goudie is an Authorised Representative (No. 235974) of Consortium Private Wealth Pty (AFS Licence 495401).

Disclaimer || The information provided in this post is general in nature only and does not constitute personal financial advice. Robert Goudie is an Authorised Representative (No. 235974) of AFSL 495401.