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By: Nicole Bradley
12 May 2025 4 min read
Some questions to ask can include:
Ideally, you want 5-10 years to plan for retirement. The longer you allow yourself, the easier it will be to reach your goal. If selling the business part of your plan, the aim is to secure the best price and maximise your return after tax. So, what factors should you consider for retirement?
You should never assume your business’ worth. If you plan to sell for retirement, understanding its value is critical. It provides a starting point and allows you to build a growth strategy in order to achieve your desired sale price.
Firstly, you should ensure you have solid processes in place so the business can operate independently. This will safeguard the business, allowing it to continue growing in order to maximise your sale price. It’s also important to secure future revenue dreams. By securing contracts to guarantee future revenue, this will increase the value of the business.
It’s important to understand what small business tax CGT concession can apply. These include:
The key is to obtain advice early in the process. A tax advisor will assist you in estimating the tax payable, and this will provide you with certainty in relation to the net proceeds you will receive after tax.
When planning for retirement, maximising your superannuation balance is a tax-effective strategy. The fund has a tax rate of 15 per cent, enabling you to grow your investments in a tax-effective manner, building wealth for your retirement. The more time you give yourself, the best chance you have to maximise your superannuation.
After years of owning and running a business, it’s critical that you continue to find fulfillment. Whether it be taking up a hobby, spending more structured time with family, or leveraging your experience and skills for consulting services or mentoring. The step to refocusing on your life plan is just as important as maximising your value for selling your business.
A successful retirement comes down to planning – it’s never too early to start. If you’d like to discuss planning for your retirement and the best strategy for your situation, please reach out to our national team of accredited family business advisors for a conversation today.
The announced 30 per cent minimum tax on discretionary trusts creates significant challenges for private groups.
Succession is no longer just about who takes over. Many family businesses are using succession planning as a catalyst to reassess whether their current structure is still fit for purpose. As businesses scale, trust or partnership structures can become restrictive. Issues may include limited asset protection, challenges winning commercial contracts, reduced buyer appeal, and constraints on reinvesting profits to support growth.
In estate planning, the focus is often on technical elements like drafting a will, appointing executors, minimising tax, and ensuring assets pass as intended. While these steps are important, they only form part of the picture.
