Are there any items that will not attract duty when buying a business?

·         This may vary depending on your state or territory.

·         When buying a business the items that do not attract duty usually include:

o   goods considered to be stock-in-trade;

o   materials being held for use in manufacturing processes;

o   goods currently being manufactured;

o   any goods used in connection with primary production land;

o   livestock;

o   registered motor vehicles;

o   a ship or vessel; and

o   other items not classified as 'dutiable property' under the relevant law in your state or territory.

·         If you have any concerns you can use our free and anonymous Ask a Lawyer service to get information specific to your situation.