NSW & Victoria business transfers

Visitors to this website will be aware that we hold licences and operate in both states.

Some of the differences we encounter are: There is (generally) no stamp duty payable on the sale of businesses in Victoria. There may be duty payable however on the real estate component of a freehold sale.
Licensing of footpath alfresco areas. This is carried out by local government in NSW, and operators are charged usually say $20 per chair or table per annum. In Victoria this appears to be a flat $26 fee, a significant saving.

Vendor disclosure statements( S. 52). These are mandatory in Victoria for smaller businesses up to $200,000, but not required in NSW. They are prepared by the vendor’s accountant/tax agent and show weekly returns. Licensed premises are generally exempt.
We will keep adding to this list.

NB.Please note this advice is of a general nature only and legal advice should be sought before and during the the sale process.