Accountants for Buying a Business

Buying a business is one of the most significant decisions you’ll ever make. Many business owners feel overwhelmed by the complexities, from understanding financial statements and negotiating fair purchase prices to ensuring tax efficiency and structuring the acquisition for long‑term success.

Our Perth-based accountants and business advisors are available to assist you, using their first-hand experiences to help make your journey into business ownership a success.

BOOK A FREE MEETING WITH A BUSINESS ACCOUNTANT

 

Most Popular Accounting Services for Business Purchases

Pre-Purchase Sanity Check & Structuring Advice

 

From $2,000 (excl. GST)

Business Acquisition Advice

Due Diligence Advice

 

From $5,000 (excl. GST)

Due Diligence Service

Advanced Tax & Asset Protection Strategies Report

 

$4,000 (excl. GST)

Tax Minimisation Strategies Report

Advice from Accountants for Buying a Business in Western Australia

The rest of this page is dedicated to providing you with an overview of the typical problems and associated solutions with regard to buying a business. These apply whether you are buying a business in Perth, elsewhere in WA or across Australia.

We’ve helped countless people along the business acquisition journey and stand ready to help you. When you’re ready to talk, book a meeting or send an enquiry.

The Problem:
When you’re considering buying a business, questions immediately arise: Are the financials as healthy as they appear? Could hidden liabilities derail your investment? Will the purchase structure suit your future growth plans? Without clear, specialist advice, you risk making costly decisions that could jeopardise your new venture’s success.

Our Solution:
At Munro’s, we take a holistic, problem‑solving approach. We work with you from the initial assessment through to closing the deal. Our process includes:

  • Comprehensive Due Diligence: We review financial records, assess cash flow and identify potential risks.
  • Tailored Acquisition Advice: We guide you through negotiations, assist with business valuation and recommend the optimal purchase structure, ensuring that the business fits your growth ambitions.
  • Tax & Compliance Strategies: Our specialists ensure that every transaction complies with Australian tax laws and that you benefit from available concessions and planning opportunities.
  • Ongoing Support: After the deal is closed, we continue to support you with business advisory and accounting services that help you integrate your new acquisition smoothly, attend to ongoing accounting and tax, and plan for future growth.

Key Outcomes and Benefits:

  • Informed Decision-Making: With our thorough due diligence, you gain a clear picture of the business’s true value and potential.
  • Risk Mitigation: We identify red flags early so that you can avoid costly pitfalls.
  • Optimised Structure: Our recommendations not only protect your investment but also set the stage for tax efficiencies and long‑term business growth.
  • Peace of Mind: With Munro’s by your side, you can focus on the opportunities ahead, confident that you’re making a secure investment.

Problem 1: FOMO

The fear of missing out is so powerful and can lead people to make terrible decisions. Buying a business requires you to put a lot of wealth on the line. You’ve got to think clearly and sceptically.

Solution
Be sceptical.

Outcome
Reduce the chance of buying an overpriced / non-profitable business.

Problem 2: Financing

How are you going to fund the purchase of the business? Do you need extra funds to satisfy ongoing financial obligations? What additional liabilities, guarantees and risks are you going to take on? Will you have sufficient cash to survive and eventually thrive?

Solution
Appropriate funding.

Outcome
The money you need to survive and thrive.

Problem 3: Setup for Future Tax Success

Tax is generally unavoidable, but the amount of tax you pay in the future will be heavily influenced by decisions made now.

Solution
Setup tax planning.

Outcome
Bare minimum tax.

Problem 4: Assets & Liability Protection

Operating a business increases exposures to extra liabilities and requires safeguarding of existing and new wealth as best as possible.

Solution
Basic asset protection + optionally advanced protection.

Outcome
At least the bare minimum wealth protection you should have.

Problem 5: How to De-risk

When arranging a due diligence, you should really follow the classic wisdom: you can’t just look at the iceberg above the ocean surface because there is so much hidden and dangerous below.

Solution
Comprehensive due diligence.

Outcome
Make a fully informed decision and know what you’re getting into.

Problem 6: Going into Business with Others

Whether you’re going into business with family or friends, it’s important to recognise that business life and the stresses it brings will give rise to new and sometimes challenging issues.

Solution
Clearly defined and understood intent with a proactive dispute resolution agreement.

Outcome
Mitigate the potential of messy and costly future disputes.

Problem 7: Setup Bookkeeping in Xero, MYOB, Quickbooks, etc

We cannot stress enough how vital it is to setup an accurate accounting system from the beginning.

Solution
Startup bookkeeping.

Outcome
Clean financial information from the beginning as opposed to a costly, uninformative mess.

Problem 8: Employing People

Employment, tax and superannuation laws impose a heavy burden on employers and you must give this responsibility the attention and care it requires.

Solution
Skilful and pragmatic support with implementing employment basics.

Outcome
Legally compliant employment arrangements.

Problem 9: Business Ownership Education

There is no one who knows everything about business. From the moment you buy your business, you’ll need to continually upskill to meet the challenges. Don’t start from scratch; tap into the knowledge and learnings of others.

Solution
Sprints, blended learning, community insights and coaching.

Outcome
The best leader you can become, as quickly as you can get there.

Frequently Asked Questions for Buying a Business

  1. What are the first steps in buying a business?
    Before proceeding, you should conduct preliminary research, understand your financial capacity (can you get a loan) and arrange for specialist advice. We help you assess whether a business aligns with your growth plans.

  2. How do I know if a business is fairly valued?
    Our valuation process uses multiple methods to ensure accuracy, considering cash flow, assets and market trends. We compare industry benchmarks to determine a fair price.

  3. What if I find hidden liabilities during due diligence?
    Identifying risks early is crucial. We advise on mitigating strategies and this may allow you to renegotiate terms based on unforeseen liabilities, ensuring you don’t overpay for potential risks.

  4. How can tax planning help when buying a business?
    Effective tax planning can significantly reduce your tax burden in the future. We work with you to structure the deal in a tax‑efficient manner, ensuring you take advantage of all applicable concessions and deductions.

  5. Are your services available only in Perth?
    While Munro’s is proudly based in Perth with deep local expertise, our compliance and advisory strategies are effective for businesses throughout Australia.

  6. What makes Munro’s approach different?
    We are known as “The Professional Problem Solvers” because we focus on understanding your challenges and crafting tailored solutions. Our approach is transparent, value‑driven and backed by over 100 Google reviews praising our responsiveness and specialist advice.

  7. How can a business accountant help improve my profit following the acquisition?
    Our specialists don’t just crunch numbers; we provide actionable insights that can help optimise your operations, reduce unnecessary expenses and ultimately boost your profit margins.

  8. What is the price for your structuring and due diligence service?
    Our pricing is transparent and reflects the complexity of your needs. Please visit our pricing page and contact us for a personalised quote.

  9. How long does the buying process usually take?
    Every acquisition is unique. Generally, the process can take several months from initial enquiry to final settlement, depending on whether you’ve already identified a target acquisition, your access to business loans, the complexity of due diligence and negotiations.

  10. Can you help if I’m considering a franchise purchase?
    Absolutely. We have assisted many clients in purchasing franchises by evaluating their financial performance and negotiating favourable terms.

Where To Begin

Get To Know Each Other Meeting

 

FREE (incl. GST)

How We Get Started

Come Along To An Improve Session

 

First Session is FREE (incl. GST)

Upskilling Event for Business Leaders

Munro's, where client service matters

Top 2% ranked Australian Accounting Firm

Play Ranking Explained

  • ★★★★★ — Esteban Aguilar

    Thanks Mike and the team for making it easy to process my personal tax and for answering all my questions and concerns around CGT.

    read more
  • ★★★★★ — Tim

    I have been a client of Munro’s for 2 years and am very happy with their service. They have saved me a lot of time, effort, and money.

    read more
  • ★★★★★ — Philip Maguire

    Our dealings with Drew Pflaum of Munros were a revelation to my wife and I. Never before had we encountered a business accountant with such dedicated commitment to his clients. Drew’s work ethic is outstanding. When we found Drew online we were in desperate circumstances, faced with the loss of our two properties.

    His empathy, hard work, patience and breadth of knowledge was incomparable and took us from despair to hope very quickly. He worked out strategies that bought us time and helped us immensely.

    Without Drew’s input our future prospects were bleak. We’re delighted to have had the opportunity to review our very positive experience.

    read more
  • ★★★★★ — Mike

    For nearly ten years, Munros has consistently provided me with excellent service. Drew has been a pioneer in handling crypto tax matters, even before it was a thing. I can’t imagine finding a more approachable and professional outfit. I anticipate a lasting partnership, despite a few questionable football team preferences.

    read more
  • ★★★★★ — Asif Raza

    Drew was extremely helpful and professional. Highly recommend!!

    read more
  • ★★★★★ — Robynne Richards

    Munro’s are an honest, reliable, on the ball, and personable business. The family feel engendered has been highly regarded by our family for over 40 years.

    Congratulations on a significant and well deserved creditable milestone, with best wishes for what we are sure will be a successful future.

    read more
  • ★★★★★ — Alex C

    Munros was really helpful in listening to my situation and taking their time in pointing me to the right direction for my complex tax matters. I high recommend their services!

    read more
  • ★★★★★ — Greg Hill

    Congratulation on achieving 50 years in business! We made the move to Munro’s in 2015 and have since received sound professional advice & services for all accounting, taxation, business development and succession planning needs, to us personally, to our family and to our group of companies. We have found your services to be efficient, effective and of the highest caliber. Many thanks from the Hill Group.

    read more
  • ★★★★★ — Lucas Overman

    The team at Munro’s were incredibly understanding, helpful and professional when providing advice tailored to my needs.

    read more
  • ★★★★★ — Val McAlpine

    David and I have been loyal clients of Munros for many years—I think since we were married in 1962. David made all the decisions in those early years. I became a more active partner as we worked with Ted Wilhelm and Ian Arblaster until their retirement. We then worked with Christine Prasetia for our financial, accounting, taxation and our wills until David’s death in May, 2017. Christine has patiently guided me through taking up the reins of our business venture. She is very efficient and totally reliable in all our dealings. I feel fortunate to have Christine as my accountant and business advisor. Thanking you, Val McAlpine

    read more
  • ★★★★★ — Allison Beck

    Super grateful to Drew and the team at Munro’s for their quick response and helpfulness! I reached out via their website to see about getting a referral for a comparable crypto tax advisor in the United States, as Munro’s seemed to be the best firm I came across in my research. Drew got back to me within hours and was kind enough to reach out to his network for a reputable contact. He directed me to a great firm and was quick, kind, and communicative throughout. Wish we were based in Australia so we could work with Drew and his team for all our tax advisory needs! Highly recommend.

    read more
  • ★★★★★ — E M

    Rama and the team at Munro’s provided prompt and thorough crypto tax advice. They are very professional and I highly recommend their services.

    read more
  • ★★★★★ — E M

    Rama and the team at Munro’s provided prompt and thorough crypto tax advice. They are very professional and I highly recommend their services.

    read more
  • ★★★★★ — Reuben Crocker

    The team is very responsive to emails and their communication is good. I was dealing with Brian and Saul.

    read more
  • ★★★★★ — Ray Norton

    OVER THE LAST 25 YEARS I HAVE ALWAYS ENJOYED GREAT SERVICE FROM IAN ARBLASTER, ANNETTE WHYTE AND OF COURSE BEN PAUL. THANKS FOR ALL THE SUPPORT. RAY NORTON

    read more
  • ★★★★★ — Ryan Hannah

    Great first experience at Monro’s! Took on the service expecting a sizable tax bill and ended up with a rebait, also learned about tax laws. Will defiantly be back next year.

    read more
  • ★★★★★ — Jeff Hoffard

    From QLD was searching for a accounting firm that could easily handle all my tax dealings including crypto transactions and Carl has been very helpful always just an email away to sort out any concerns I might have.

    read more
  • ★★★★★ — Michael Page

    Accountant Drew was very helpful with a detailed insight to capital gains tax and reset period shall we sell our property. Drew contacted five minutes after I enquired to the office and followed up with this assessment

    The tax tribunal has said that a common-sense assessment applies when considering the varying number of factors and even conflicting circumstances when determining if a house is someone’s main residence. In your case, the Bunbury house may have become your main residence for that short eight week stay if you moved a great deal of personal belonging there. However, a common-sense assessment likely suggests it did not become your main residence (at least on the facts that I know). If it didn’t become your main residence, then the maximum period you can claim the property as your main residence for the period since 2018 is 6 years. I.e. 2018-2014. For the period 2024 onwards, the main residence exemption cannot apply. You could, however, move back in and re-establish it as your main residence and then move out and rent again, which would restart the absentee rule. However, you still would not get the main residence exemption for the period 2024 to the time you moved back in because the maximum 6 years has expired for this current period of absence.

    read more
  • ★★★★★ — T K

    I highly recommend Drew and the team at Munros for their excellent accounting services, particularly with investment income as well as their crypto expertise. Thanks Drew.

    read more
  • ★★★★★ — Shiny Sheep

    5 Stars from Don. I can’t thank Drew and Brian enough for dealing with my very complex history across multiple years of cryptocurrency trading. This has been across many exchanges, wallets, and my Dash Masternode history also. Drew and Brian have been flawless when fielding my various questions across the months it has taken to work through my complex case load.
    Based in Sydney, I got into cryptocurrency in 2013, and it lead me down a trajectory in life I could never have foreseen. Getting this tax aspect of it up to date will take a layer of stress off my back.

    I highly recommend Munro’s, Perth.

    read more
  • ★★★★★ — Darryl Chester

    Congratulations on 50 years of accounting.
    Munro`s have managed our family business affairs for approximately 45 years.
    Thankyou.

    read more
  • ★★★★★ — Effie White

    Christine Prasetia is extremely efficient, always on hand with advice and is a pleasure to work with.

    read more
  • ★★★★★ — Jeremy Glasgow

    Very knowledgeable experts on complicated crypto tax matters. I would highly recommend every trader/investor to bite the bullet and seek professional advice from Munro’s.

    read more
  • ★★★★★ — Kevin Yuen

    Recently when I approached Saul and Drew at Munro’s regarding a tricky cryptocurrency investment situation they were very helpful in assisting. They are very knowledgeable about the area and their insights and recommendations were very much appreciated.

    read more
  • ★★★★★ — Kevin Yuen

    Recently when I approached Saul and Drew at Munro’s regarding a tricky cryptocurrency investment situation they were very helpful in assisting. They are very knowledgeable about the area and their insights and recommendations were very much appreciated.

    read more
  • ★★★★★ — Jenny Bourke

    We followed Mike Beer when he joined Munros and have been with them ever since. Mike has been a huge help over many years. He is always available to answer even the most basic/ extraordinarily naive questions, and always with a generous and helpful attitude.

    read more
  • ★★★★★ — Ben Soules

    Excellent advice with very skilled accountants. Not too expensive, for such a specialized and sophisticated service. Committed to the customer, always very professional and helpful. Highly recommended!

    read more
  • ★★★★★ — Jennifer Fox

    A big shout out to Mike and his team at Munro’s for the outstanding work you’ve done on our accounts and returns!!

    From our very first interaction with Mike, we had a great feeling about engaging with Munro’s, and you’ve more than delivered.

    It’s been such a relief to know our business and personal accounts are in such capable hands.

    Highly recommended.

    read more
  • ★★★★★ — Nick & Katy Formica

    We wish to thank Mike & his team @ Munros for their professional help & service over the past 20 years . Having just recently sold our franchise business after 14 years, Mike has guided us through those times with success & helped us to achieve our family goals within our business. Congratulations on your 50th Anniversary. Looking forward to continue to work with Mike & the team in the near future.

    read more
  • ★★★★★ — Doreen Wilkinson

    Have been using Munro’s for over 30 years and have been completely satisfied with the friendliness and expert knowledge they provide. I would fully recommend anybody needing an accounting firm to use Munro’s. Well done Simon and the team.

    read more
  • ★★★★★ — Chloe Pritchard

    I was looking for a business advisor for my small business in the Perth area and stumbled across Munro’s. On the website I was able to conveniently book an initial meeting with them to find out how I could achieve long term growth. One of their business accountants, Drew, promptly replied back and even helped accommodate a meeting on an earlier date. I met with him at their Perth office, and he was beyond helpful. After the meeting he followed up with an email, comprehensively outlining what we had discussed with great tips to help me move forward with growing my business. I really appreciated that Munro’s was willing to take the time to meet with me and help me even though my business is still a little too small to pursue Munro’s services. Drew didn’t try and upsell me and was so helpful and realistic with what I should do at this current stage in my business.

    read more
  • ★★★★★ — Noeline Kellow

    I started working at Munro’s in 1979, spent my life there (besides stopping to have a family) & retired from Munro”s in December 2022. Great place to work & made lifetime friends.

    read more
  • ★★★★★ — Paulo

    Excellent accounting service with a deep understanding of tax implications for SMSFs.

    I was very impressed with Munro’s accounting service. Before I engaged with Munro’s, I met with accountants across Australia, but I decided to go with Munro’s because of their breadth and understanding of taxation.

    Brian from Munro’s was able to quickly and efficiently complete my 2023 tax returns, and also provided additional advice and expertise on how I could better structure my affairs.

    Originally, I briefed Munro’s to wind back my SMSF due to the administrative burden of managing it. However, Munro’s was able to clearly understand my affairs and prepare the tax documentation in a way that reduced the administrative burden. I was so impressed with their service that I decided to continue with the SMSF after all.

    I highly recommend Munro’s to anyone looking for an accounting service with a deep understanding of taxation and SMSFs.

    read more
  • ★★★★★ — RW

    After “investing” in cryptocurrencies for the past few years I thought my tax return was going to be a nightmare. Cherie and the team at Munro’s have done a fantastic job at making my last two tax returns as easy as possible for me and I will be continuing to use their services in the future.

    read more
  • ★★★★★ — Ferrante Alvarezdetoledo

    Happy 50 years !!! I joined Munro’s in 1974 just close to when the accounting firm had started, Don Munro was my accountant at the time and helped greatly in all my various problems and successes and he still remained a very dear friend to me; now Simon Strawbridge is looking after me and I can only praise all the work that he has been doing for me not only in accounting, but also in advising my various legal problems and investments.

    I can only say well done to the whole team and hope that I will still be their client in the coming years.

    read more

read more testimonials

Discover Our Key Services & Solutions

Business Accounting

 

Accounting & Tax Services

Business Advisory

 

Business Advice Services

Asset & Wealth Protection

 

Asset Protection Services

Tell us about your problem and we’ll respond within 1 business day.