As practicing accountants and CA’s, with over twenty years experience, and heavily involved with this industry, we would like to help guide you through the purchase operation toward eventual sale of these businesses.


We believe that people contemplating any business should focus on the long term goals and we recommend you consider the following steps in the process –

Step 1 – UNDERSTAND THE INDUSTRY
  • Talk To Experienced Professionals In The Industry
  • Attend Seminars
Step 2 – MEET WITH AN ACCOUNTANT
  • TO DETERMINE A SUITABLE BUSINESS STRUCTURE (See Prior to Contract Signing)
Step 3 – START LOOKING FOR YOUR NEW BUSINESS
  • Use only Industry Specialist Brokers with lots of experience
Step 4 – PRESENT AN OFFER
  • to the Vendor – Negotiating the price you are willing to pay
Step 5 – SIGN THE BUSINESS CONTRACT
  • In name of business entity previously discussed in Step 2 AND SIGN THE UNIT CONTRACT again discussed in Step 2
Step 6 – THE PROCESS STARTS
  • Accountants will conduct the profit verification – See Verification of Profitability
  • Lawyers will conduct the Legal Due Diligence
  • Financiers will prepare lending documents
  • You will meet the Body Corporate
  • You ensure your Licence is ready
Step 7 – ENSURE YOUR TAXATION, GST AND OTHER REGISTRATIONS ARE IN PLACE
Step 8 – COMMENCE BUSINESS
  • Know how to manage your trust account
  • Know how to manage your tax & GST oblibations – See General & Trust Accounting
  • Learn how to save tax – See Taxation & GST matters
  • Plan for your long-term financial goals
Step 9 – BE READY FOR SALE
  • Operate a good growing business
  • Operate an efficient accounting system
  • Be able to prepare accurate “selling” reports
Step 10 – AFTER SALE
  • Work to minimize or eliminate any Capital Gains tax
  • Work with a Financial Planner on your wealth / retirement strategy

Contact Paul Gaffney:-  This email address is being protected from spambots. You need JavaScript enabled to view it.

Our web site can be viewed at:- http://mbapartnership.com.au/

Management Rights Articles

  • THE DEEP END OF POOLED LETTING POOLS

    We regularly review a variety of letting appointments (the agreement between the building manager acting as letting agent and the owners of the investment units used in a letting pool) and we often find that there is a noticeable gap between what the appointments state versus how they are interpreted.

    For the most part the gap can be attributed to overly simplified clauses that do not adequately state the practices that the majority of the industry operates under. In general, these inadequacies are rarely the subject of a legal dispute (when business is good) and so fixing them is often left on the “do it tomorrow” pile.

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