We provide our clients with 'time-saving business solutions'

Succession Planning

Helping you make plans to allow you to actually retire.

Did you know that only 9% of the population is predicted to be able to retire comfortably? Another word for Succession Planning is Retirement Planning. There is a serious lack of retirement planning in Australia. It basically asks that difficult and confronting question: “How am I going to get out of this business?”

Typically there are a number of options:

  • Sell to a third party/competitor
  • Sell to existing partners
  • Hand over to family
  • Hand over to staff
  • Close down


It is a very stressful process to think about and most people tend to “put it off”. The main reasons these decisions are deferred are:

  • What will I do with myself once I sell my business?
  • I can’t get enough for my business when I sell it … so I’ll just keep working
  • I don’t want anybody to know that I’m thinking of getting out as it may hurt my business (especially if my competition or key staff find out)


We help you to resolve these difficult issues – while you have time to do something positive about them! If you plan to retire within the next five years you may have left your succession planning a little too late. However, a short-term plan is better than no plan at all! At KDA Tax & Financial Services we don’t let you “back yourself into a corner”. We are constantly checking your retirement planning when we review your strategic plan. We get you thinking about investing (what you can afford) outside of your business. We talk to you about insurance to protect what you’ve got. Your retirement planning shouldn’t centre on what you get for your business when you sell it. This has the effect of binding you to the sale price of your business. It makes the sale negotiation process quite stressful and (at times) adversarial. It may force you to sell your business (rather than hand it over to your family/partners/staff etc.). That’s what succession planning is all about. This is where the benefits of having an integrated financial planning and tax/accounting advisor become evident. You get a coordinated approach from our combined expertise to produce innovative plans that will help you create, grow and protect your wealth.

Take the stress out of your retirement planning and contact KDA to help maximise your retirement plans and minimise any disruptions.