ato logo
Search Suggestion:

Purchase or sale of a business during the income year

Last updated 11 February 2019

Keep a record of the following:

  • the name and address of the other party to the transaction
  • the purchase or sale price, including details of the allocation of purchase or sale price to all items purchased or sold, including stock on hand and depreciating assets
  • a copy of the contract of purchase or sale.

If there is no trustee who is an Australian resident, the onus is on the public officer to keep this information.