If you are planning to close your business, there are a few important things to take care of.
When you’ve put a lot of time and hard work into building a business, sometimes it’s hard to know what to do in difficult times. We can discuss whether alternatives might be appropriate, such as changing operations or structure or pausing the business.
If you have all your financial reports, you could also check the ATO Business viability assessment tool. The online tool asks for basic financial performance and business management information and provides a viability result.
Before closing, you’ll need to manage the process leading up to the closure.
Remember, you’ll still need to keep all business records for at least five years.
If you’re not sure about your business’s viability, talk to us for an objective assessment and analysis of options.
If you’re ready to close the business, we’re here to help minimise stress by taking over administrative tasks involved in closing down.
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