To ensure the long-term success of your business, it is critical to establish a well-designed succession plan.
Coordinating the transition of your business to your successors can be take a long period of time and many aspects of the business will need to be considered.
We have experience in assisting family and other private businesses with succession planning. Such succession planning may be to other family members or business partners, management or the eventual sale of the business and the succession of the capital to the family or business partners for reinvestment.
We are able to advise on succession planning to other family members, business partners or management, including:
- income tax and capital gains tax implications of disposal of assets from exiting family members or business partners to new or ongoing owners
- taxation implications arising from restructure of existing ownership entities, such as a company, to new shareholders
- review of governance of the business for clear and transparent management and decision making
- business and financial strategic planning for ongoing success in the business
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