Contract For Sale Of Business – Business Sale Contract Template Agreement

When To Use This Document:

When a business is sold as a “Going Concern”, it means that the business is being sold with the intention of continuing its operations. This includes all assets, liabilities, and operations necessary for the business to continue operating without interruption.

The sale is treated as a GST-free supply, which means that no GST is applied to the transaction. This is beneficial for both the buyer and the seller, as it avoids a potentially significant GST liability.

To qualify for the GST-free treatment of the sale of a business as a going concern, several conditions must be met:

• The buyer and seller must be registered for GST.
• The sale must be for consideration (payment) and not a gift.
• The business must be a “going concern,” meaning it is actively trading and capable of being continued by the buyer without significant interruption.
• The buyer and seller must both agree in writing that the sale is of a going concern.
• The buyer and seller must agree on all the necessary terms and conditions for the sale.

This Business Sale Contract template agreement will help you meet these conditions when buying or selling an established business as a going concern.

Drafted by Legal Professionals ensuring compliance across all Australian states, this comprehensive Contract for Sale of Business comes as an easy-to-edit Microsoft Word template. It covers provisions for goodwill, stock, leases, business assets, GST, business name, restraints of trade, employees, stamp duty, dispute resolution, and more.

Like all of our documents, this user-friendly Business Sale Contract Template  is written in Plain English.  It’s designed for ease of use and will provide strong legal protection in case of any misunderstandings.