Accountants for Selling a Business

You’ve built your business with hard work and determination, but, when it comes time to exit the process can be overwhelming. Questions about valuation, negotiating the sale, minimising tax implications and ensuring a smooth transition may keep you up at night.

At Munro’s, our accountants help guide business owners through every step of selling your business, so you can confidently move on to your next chapter.

BOOK A FREE MEETING WITH A BUSINESS ACCOUNTANT

Most Popular Accounting Services for Selling a Business

Tax Planning Before Selling a Business

 

From $3,000 (excl. GST)

Tax Planning Before Business Sale Services

Find Lost Profit & Improve Workshop

 

From $2,600 (excl. GST)

Lost Profit Workshop

Profit Improvement Programme

 

From $6,295 (excl. GST)

Profit Improvement Programme

Advice from Accountants for Selling 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 regards to selling a business. These apply whether you are selling a business in Perth, elsewhere in WA or across Australia.

Should you need professional accounting help when selling your business, please let us know by booking a meeting or sending an enquiry.

The Problem

Selling a business isn’t just about finding a buyer; it’s about overcoming several key challenges:

  • Valuation Uncertainty: Determining the true value of your business can be complex. Without an accurate valuation, you risk underselling or scaring off potential buyers.
  • Tax Implications: The tax consequences of a sale can erode your profit if not managed correctly. Many business owners worry about paying too much tax and missing out on available concessions.
  • Emotional & Strategic Decisions: Selling a business is an emotional decision as well as a financial one. It requires a clear strategy to ensure that your years of hard work are rewarded.
  • Smooth Transition: The sale process can disrupt day-to-day operations. You need a plan that ensures minimal interruption so that your business continues to thrive during the sale process.

Our Solution:

At Munro’s, we understand that every business is unique. We listen to your challenges and craft a tailored solution that delivers real value. Here’s how we can do it:

  • Valuation Improvement: We can work with you to understand the value of your business in its current state and, more importantly, how to improve the value so you get the most out of the sale.
  • Tax Planning: Our business tax accountants examine your tax position and develops strategies to legally minimise your tax burden.
  • Responsive Advice & Assistance: From preparing your financials to negotiating with buyers, we are promptly available throughout every step of the sale process.

Key Outcomes & Benefits

  • Maximum Business Value: Our comprehensive valuation and strategic advice help ensure you receive the best possible price for your business.
  • Minimised Tax Liability: With proactive tax planning, we help you take advantage of all available concessions, so you keep more of your profit.
  • Peace of Mind: You complete the process knowing you’ve done everything possible to make it a great success.

Problem 1: Get Ready to Sell

To increase the chance of selling your business within the desired timeframe and at the price you want, you need to get it ready for sale. Generally, the sooner you start getting ready, the better.

Solution
Business sales readiness.

Outcome
An attractive business for prospective buyers.

Problem 2: Business Valuation

There isn’t just one way to value a business. Ultimately, what you want as the seller is a business valuation which is realistically achievable and prepared in such a way that will effectively help the buyer agree to paying it.

Solution
Realistic business valuation.

Outcome
Increased chance of selling the business at a fair price.

Problem 3: Save Tax with the Small Business CGT Concessions

There may be very valuable tax concessions available if you satisfy certain criteria. This includes the possibility of an extra 50% CGT discount plus a part or full tax exemption. Forward planning is advised given things may need adjusting the year, or several years, before selling.

Solution
Forward tax planning.

Outcome
Bare minimum tax.

Problem 4: What Next

As you approach selling your business and possibly coming into a large cash lump sum, you’ll need to consider how to set this up in a tax effective and financially prudent manner.

Solution
Retirement tax planning.

Outcome
Tax effective retirement.

Frequently Asked Questions for Selling a Business

  1. What does selling a business involve?
    Selling a business involves determining its value, preparing financials, negotiating with potential buyers and planning for tax implications and transition. Our process is designed to address each of these steps systematically.
  2. How can I minimise my tax liability when selling my business?
    Our tax accountants examine your tax position and where possible leverage concessions to tailor a strategy to ensure you pay no more tax than necessary. Sometimes actions need to be taken years in advance to legally minimise tax at the time of the sale, so make sure you get started on tax planning for selling a business early.
  3. What outcomes can I expect when working with Munro’s?
    Our approach is designed to secure the best possible sale value, minimise tax impact and ensure a smooth transition. Our clients appreciate the clarity and confidence we provide throughout the process. See our over 100 5‑star Google reviews as a testament to our high quality accounting service.
  4. Are your services available outside Perth?
    While Munro’s is based in Perth, our business accounting and advisory services are available throughout WA and across Australia.
  5. What is the price of your service?
    Our pricing is transparent and reflects the complexity of your needs. Please visit our pricing page and contact us for a personalised quote.
  6. How do I get started with selling my business?
    It all begins with a free Get To Know Each Other meeting. During this meeting we discuss your business and your future goals, setting the initial stage of constructing a tailored sale strategy that achieves what you need.
  7. Can you help with other accounting and advisory services beyond selling my business?
    Yes. At Munro’s, we offer a full range of accounting, tax and business advisory services designed to support you through every stage of your business lifecycle.

Where To Begin

Get To Know Each Other Meeting

 

FREE (incl. GST)

How We Get Started

Tailored Tax Advice

 

$396-$770 (incl. GST)

Tax Consultation Service

Come Along To An Improve Session

 

First Session is FREE (incl. GST)

Upskilling Event for Business Leaders

Are you ready to sell your business?

Take the spam-free* Selling a Business Diagnostic.

Selling a Business Diagnostic

* You’ll receive only two emails, which deliver the results, analysis and recommendations from the diagnostic. You won’t be added to our mailing list unless you explicitly opt-in.

Munro's, where client service matters

Top 2% ranked Australian Accounting Firm

Play Ranking Explained

  • ★★★★★ — Stephen Vella

    We first met Mike Beer 25 years ago, when he was assigned to our account by his employer at the time. When Mike moved to Munro’s, we decided to transfer our business to follow him as we were so impressed with both his professionalism and his character.

    We have never regretted our decision to keep our business with Munro’s and Mike, who we think of as a good friend first and a total professional second for the excellent service he and his company have provided.

    Congratulations Munro’s on your anniversary!

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  • ★★★★★ — Darryl Chester

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

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  • ★★★★★ — Leslie & Joan O'Halloran

    MUNROS what a great team:

    Munros have supported 3 generations of the O’Halloran family from Kojonup over the past 50 years. Starting with Donald Munro when he was Wesfarmers client Accountant.

    We are very grateful for their ongoing support in all accounting matters. Simon, Christine and their team are always willing to help whenever we need it.

    Congratulations on your 50-year celebration. All the best for the future.

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  • ★★★★★ — Cynthia Johnston

    This is such a great team! I was behind in my crypto accounting and I received clear instructions and assistance to bring all of my accounting up to date this year. I recommend Munro’s to everyone, especially people using crypto currency. This team are experts in this field!

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  • ★★★★★ — Frances Morrell

    Munros have been a wonderful support over the last 50 years. Christine , Simon and previously Barry, have taken tremendous care of all my accounts and have even managed not to laugh at the state of my annual paperwork, that is, when I eventually submit it.

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  • ★★★★★ — 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.

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  • ★★★★★ — Greg Berlin

    Munros have been doing my family tax returns for the past 3 years, and I’ve been nothing but delighted with the service they’ve offered. They took on a relatively complex set of returns, including sharing of CGT benefits between myself and my partner, and did exactly what I hoped they’d do, and more. Not only that, they always went above and beyond to explain what they have done and why, keeping us happy and at ease at all times during the tax return processes.

    And to top it off, their knowledge of the crypto space is phenomenal, as are the tools they’ve developed to report and get the best possible returns with cryptos in mind.

    Give them a try, I guarantee you won’t be disappointed.

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  • ★★★★★ — J T

    Drew provided clear and detailed advice on my crypto and personal tax matters, making everything easy to understand. Highly recommend!

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  • ★★★★★ — Gary Lambe

    The Munros Team have exceeded my wildest expectations, with delivering the most competent, friendly and fruitful service. Thanks to their patience, great lines of communication and willingness to take on difficult challenges- they have turned my headaches into happiness. I’d recommend Munros to any Trader using complex or new systems, and maybe feel like their tax situation is an unholy mess. Munros worked hard to really understand the nascent Kinesis Monetary System, with its nuanced trading complexities. Purely due to painstaking efforts to “nut it all out”. Thanks heaps… Absolute Legends!

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  • ★★★★★ — Barbara and Murray

    From the moment we met Simon Strawbridge we were impressed and put at ease by his personable manner. We knew our taxation assessment was in competent and knowledgeable hands.We have been with Munro’s for 8+ years. During this time Drew Pflaum assisted us with BAS issues, which was greatly appreciated easing another financial burden. All the staff whom have assisted us through the years have been highly professional and always pleasant. In particular those at the reception desk always helped us with a smile. Even when reception was not attended, someone was quick to assist us. Munro’s make taxation assessment time a breeze. Thank you Munro’s. Congratulations on 50 years of excellent service

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  • ★★★★★ — 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.

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  • ★★★★★ — Joe and Wendy McKinley

    Thank you to all the Staff members of Munro’s who have cared for our business over the last 50 years.
    Always competent and friendly.

    Best wishes for the future.

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  • ★★★★★ — Joe and Wendy McKinley

    Thank you to all the Staff members of Munro’s who have cared for our business over the last 50 years.
    Always competent and friendly.

    Best wishes for the future.

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  • ★★★★★ — Laura Hooton

    Great Firm. Have been dealing with Christine for a few years and she is always there for advice and willing to help. Highly recommend.

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  • ★★★★★ — Robert Klein

    Real pleasure dealing with Munro’s. Drew Pflaum in particular was very helpful in providing tailored advice promptly and professionally.

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  • ★★★★★ — Alex England

    I was recommended to use Munro’s as I had a number of well overdue tax issues to have resolved. All was promptly taken care of and with a far better outcome than I had anticipated…great work Josephine! Highly recommended!

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  • ★★★★★ — Bev Margetts

    Mike has been most helpful and professional with our accounting, superannuation and taxation affairs. We had transferred some years ago from a less than professional person and now very pleased to be with Munro’s. Congratulations on 50 years and best wishes for a long and successful future.

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  • ★★★★★ — iORGANiC

    I am very pleased to recommend Cherie and Munros. They are friendly, polite, energetic, honest and reliable. We feel in good hands with our taxation and business commitments. We have been delighted that Munros thoroughly understand our business structure and requirements. We are always treated with respect. We feel a sense of integrity infuses the company which is very important. We feel that Munro are up to date with the regulations and knowledge in their field. We have never been let down or kept waiting for an answer. Cherie and Munros have helped with our business forward planning and I would recommend them to anyone who need someone that listens and provides professional solutions without fuss. Thank you Cherie and Munros!

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  • ★★★★★ — Eve Broadley

    Sorry, I can’t join you in your celebration on 1st September.

    However, I wish to thank you for all your wonderful service for more years than I can remember, especially Simon, Carl and Annette.

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  • ★★★★★ — Matt R

    Drew and the team made my 2019 tax return easy. They also made an alteration to my 2018 tax return and I had an unexpected return. Highly recommended.

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  • ★★★★★ — Matt Mckinley

    Drew, Simon and the team at Munro’s have been our family and business accountants for many years now. They provide excellent service and advice. We would not hesitate to recommend them to others.

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  • ★★★★★ — 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.

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  • ★★★★★ — Nathan Pintabona

    Professional, insightful and always supporting. Christine and Munro’s has helped me through all avenue’s and queries regarding investment, tax return, property, super and general finance. Really appreciative of their work and highly recommend!

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  • ★★★★★ — Michael Sasse

    Congratulations Munro’s on 50 years. I think my father must have been one of Donald’s and Barry’s earliest clients. Their names were ever present around the breakfast table when I was hopping on a school bus. I reflected with Christine a few months ago that the most important people in life were my family, my accountants, my GP and and Gough Whitlam. In no particluar order. (Why Gough Whitlam? He gave me a free university education and stopped the Vietnam ballot a year before it was my turn. And I have never voted labor). Thanks to Ian, Melissa, Christine, Noeline and Rama. Ever professional.

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  • ★★★★★ — Michael Sasse

    Congratulations Munro’s on 50 years. I think my father must have been one of Donald’s and Barry’s earliest clients. Their names were ever present around the breakfast table when I was hopping on a school bus. I reflected with Christine a few months ago that the most important people in life were my family, my accountants, my GP and and Gough Whitlam. In no particluar order. (Why Gough Whitlam? He gave me a free university education and stopped the Vietnam ballot a year before it was my turn. And I have never voted labor). Thanks to Ian, Melissa, Christine, Noeline and Rama. Ever professional.

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  • ★★★★★ — Nicole Sedgwick

    Congratulations Munro’s on reaching this significant milestone!

    Our family business has been with Munro’s since its establishment 50 years ago. They have supported our business through 3 generations and we are confident that our relationship will continue to grow for many years to come. They are professional, reliable and understanding and we think of them like an extension of our family. We would highly recommend them to anyone!

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  • ★★★★★ — Ward Adam

    The family began with Don Munro at Wesfarmers. Simon and his professional staff at Munros have continued to give excellent service and advice over many years. Lil Ward and Carol look forward to our association with you in the future. Congratulations on 50 years.

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  • ★★★★★ — 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.

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  • ★★★★★ — 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.

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  • ★★★★★ — Boz

    Huge thankyou to Drew, Rama and the whole Munro’s team. Great service and easy to deal with. Was an absolute pleasure. A+

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  • ★★★★★ — Mark Howlett

    Got terrific service and advice from Drew. Simple, informative and a quick response time too. Would recommend.

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  • ★★★★★ — Kevin Connor

    When I first discovered Munro’s and spoke to Drew, it was clear that they would be the perfect solution to my accounting issues. Owing to the nascent nature of crypto, I struggled to find a firm knowledgable and confident enough to handle my vast transaction history, across many networks and numerous wallets.

    Working closely with Rama, I have experienced nothing but prompt and clear communication at all times. I continue to be impressed with the accuracy, clarity and professional services I receive.

    In my experience, I have found Munro’s services are always provided with courteous and bespoke correspondence.

    Many thanks and congratulations to 50 years.

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  • ★★★★★ — Troy Nesbitt

    Congratulations to Munro’s for achieving 50 years of service to WA, with a special thanks to Mike and his team for looking after us through our business, personnel and financial journey.

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  • ★★★★★ — 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.

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  • ★★★★★ — Glenn Elliott

    Drew and Simon offer an amazing service at Munro’s as professional accountants and I have been using them for over 10 years now. Their customer service is second to none and I always receive prompt and reliable advice. Well done guys, keep up the great work!!

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