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 their 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 regard 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 sales 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 develop 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 that is realistically achievable and prepared in such a way that will effectively help the buyer agree to pay 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 that 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 sales 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?

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Selling a Business Diagnostic

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Munro's, where client service matters

Top 2% ranked Australian Accounting Firm

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  • ★★★★★ — Arky Abbott

    Fantastic work. Professional accountants with incredible response times and excellent advice.
    Perfect service

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  • ★★★★★ — Shelly Forrester

    At HiscoNFE we use Munro’s for all of our tax and accounting advice and we are always impressed with the quality of their service. The team at Munro’s is extremely knowledgeable, professional, helpful and affordable and Drew in particular is a guru when it comes to anything that involves tax. On the rare occasion where Simon has suggested we get a second opinion for a complex tax matter, the Munro’s advice has always been proven to be spot on! We highly recommend the team at Munro’s and we are very grateful for their support over the last 10 years. Sincere thanks from the owners at HiscoNFE!

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  • ★★★★★ — the big fella

    I used Munro’s for the first time this past year for my tax. My situation was complicated, but this did not phase them. A massive thankyou to the team there including Drew and Christine. Their professionalism was excellent. I cannot flaw their efforts at all. It was a pleasure to deal with them. Thankyou very much Munro’s. See you next year.

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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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  • ★★★★★ — Traviss Orr

    Thanks Drew and Michael, great job 👍

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  • ★★★★★ — Adrian van Bart

    I came over to Australia with a highly complicated cryptocurrency investing and trading portfolio. I never realised that I had to declare this in my tax returns as I had never cashed out into my bank account. I soon discovered that every transaction is taxable irrespective of whether or not you cash out. I contacted Munro’s in an outright panic and was put through to Cherie and explained everything to her. She immediately put me at ease and took control of my situation. From the start it was evident that I was in the care of a real professional tax consultant. I handed her a nightmare on a plate (3 years of highly complicated transactions) and she seamlessly worked through it. Cherie has incredible knowledge and experience and through this, Munro’s saved us thousands of dollars. I will remain at Munro’s until the very end. Thank you Cherie, you are the most knowledgeable and professional tax consultant that I have ever dealt with.

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  • ★★★★★ — Duane Healey

    Great business accountants. Helped with company tax return. Convenient location and nice office in Perth. Special thanks to accountant, Drew Pflaum. Highly recommended.

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  • ★★★★★ — 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.

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    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.

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  • ★★★★★ — Moree Grazing Co, Tambellup WA

    We have been clients of Munro’s (and Donald F Munro & Assoc. before that) for more than 50 years and have always found them to be right on point with their advice and work. Nothing is too much trouble to research and the responses always given in easy-to-understand language. We love that the K.I.S.S principle is used (keep-it-simple-stupid!) We can’t thank Simon and Carl enough for the great service that they provide. I have also, in community roles, worked with Barry Virgo and Ian Arblaster over the years on Co-operative business and their knowledge was second to none.

    Thank you and congratulations Munro’s on 50 years + in business.

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  • ★★★★★ — Robert Elliott

    Brilliant accounting firm I have trusted for almost 30 years with all of my business and personal accounting. Their service is second to none.

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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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  • ★★★★★ — 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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  • ★★★★★ — Effie White

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

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  • ★★★★★ — 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.

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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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  • ★★★★★ — Nick Tighe

    On behalf of our farming family, congratulations on 50 years. We have been with Munros 3 generations starting I think when My Grandmother switched at the start. My late Father always had good dealings with whoever was assigned to us which there have not been too many over the 50 years which I think may be a reflection of the stability and integrity of Munros. Simon Strawbridge who was the new kid on the block back in my fathers day and the rest of the team has always provided us with great service and we thank the whole team for their support over the years.

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  • ★★★★★ — Luke Bpob

    I’m a recent sign up who brought with me a backlog of work. Drew and team delivered on their promises and then some. Personalized service, responsive, thorough, up to date. Highly recommended.

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  • ★★★★★ — Margaret

    Congratulations to Munros on reaching its 50 Year Milestone!  This excellent firm has efficiently handled our Family’s affairs for 45 years, and into its 3rd Generation.

    We have been grateful for conscientious and good advice from Ted and now from Mike.  Roll on the next 50 Years!

    Best wishes from the Hodgson Family.

    5 Stars!

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  • ★★★★★ — Carlos Braun

    Have been using Munro’s for many years now and always happy with the thorough and speedy work they do. Highly recommended.

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  • ★★★★★ — Chris Johnston

    Drew Pflaum and Munro’s have been Fantastic with my crypto portfolio and their advise on my taxation requirements regarding this. I am also very impressed with their promptness, expertise and dedication in all my accounting matters. I would recommend their services to anyone who wants a professional and up to date accounting firm.

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  • ★★★★★ — 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.

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  • ★★★★★ — Ivan

    They know what they are doing. No matter how complex your accounting is, Munro’s is the way to go. They also have international experience. Drew and Mike’s expertise and responsiveness won’t disappoint you.

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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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  • ★★★★★ — 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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  • ★★★★★ — 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.

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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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  • ★★★★★ — FK aus

    Munro’s provided me with the exact accounting and tax advice I needed. I highly recommend Munro’s to anyone who is searching for a professional accounting firm that goes the extra mile to help their clients.

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  • ★★★★★ — 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.

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  • ★★★★★ — Faye Sanderson

    Munro’s have helped build our business from strength to strength for over 40 years! No problem or question has ever been too large or too small and all have been dealt with in a timely and efficient manner. Thanks to Simon, Carl and the team for your continual excellent service.

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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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  • ★★★★★ — 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.

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  • ★★★★★ — Lucas Overman

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

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  • ★★★★★ — 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!

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  • ★★★★★ — and away

    Very happy with the service provided by Drew and Cherie.

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