A New Tax System (Goods and Services Tax) Act 1999

Chapter 3 - The exemptions  

Part 3-1 - Supplies that are not taxable supplies  

Division 38 - GST-free supplies  

Subdivision 38-J - Supplies of going concerns  

38-325   Supply of a going concern  

The * supply of a going concern is GST-free if:

(a) the supply is for * consideration ; and

(b) the * recipient is * registered or * required to be registered ; and

(c) the supplier and the recipient have agreed in writing that the supply is of a going concern.

A supply of a going concern is a supply under an arrangement under which:

(a) the supplier supplies to the * recipient all of the things that are necessary for the continued operation of an * enterprise ; and

(b) the supplier carries on, or will carry on, the enterprise until the day of the supply (whether or not as a part of a larger enterprise carried on by the supplier).

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