If the business you are buying includes business assets such as furniture or office equipment, you must pay sales tax on them. Due diligence is a process of conducting investigations, searches and inquiries in connection with a wide range of transactions.A somewhat basic level high level presentation on the nuts and bolts of asset purchase sale transactions. The election provides for no GST (or HST in the HST provinces) to be payable in respect of the purchase and sale of the assets and reduces the cash.