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Buy Sell Agreement

A buy/sell agreement is a contract between business partners where the surviving partners buy out the other partner’s interest should a specific event occur. Specific events usually include death, and long-term disability. A buy-sell agreement can consist of several clauses in a partnership or shareholder agreement. It can also take the form of a separate, freestanding agreement. This suite contains free-standing agreements that can be used together with a partnership, company or unit trust.

An insured buy-sell agreement is one in which a triggered buyout is funded with life insurance. A policy is taken out on each of the participating owner’s lives. The life insurance policy provides the surviving partners with the money to be able to buy out the deceased/disabled/departing partner’s interest.  Such an arrangement is often recommended by financial planners to ensure the buy-sell there will be money when the buy-sell event is triggered.  The funding aspect is covered in a separate agreement called a buy/sell funding agreement.

Capital Gains Tax implications

A trauma or total and permanent disability insurance policy is subject to CGT if it is owned by the business. Only a trauma or total and permanent disability insurance policy owned by the insured is exempt.  The business owner often holds the policy on themselves. As the buy/sell agreement results in the sale of the business, a CGT liability will arise to the vendor. The small business CGT concessions may operate to reduce this CGT liability.

Deductibility of premiums

The essential characteristic of a deductible insurance premium is that it be intended to provide an income. A self-employed business owner can claim a deduction for premiums on a policy which will pay income during a period they are disabled. Normally, if a policy includes a component to pay a sum on death or disability, the component relating to death cover will not be deductible.

buy sell agreement

This Buy Sell agreement template may be used with partnerships, companies or trusts, and for  co-owners of a business who own their shares outright, rather than through a trust.

buy sell funding agreement

A buy sell funding agreement. An agreement directing life insurance proceeds to fund the Buy Sell Agreement

buy sell agreement with corporate trustee

A buy sell agreement with corporate trustee.

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Confidentiality Agreement
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Very good precedent - only comment would be to provide some examples or comments if each clause is essential to create a binding financial agreement and, if optional, 1 or 2 brief examples of circumstances where the relevant clause could be excluded. Otherwise, great work and I will certainly use precedents online again, cheers!
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Rural Lease Agreement

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