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Edited version of your written advice
Authorisation Number: 1051421333776
Date of advice: 31 August 2018
Ruling
Subject: Going concern
Question
Will the sale of a property subject to a lease constitute a supply of a GST-free going concern pursuant to section 38-325 of A New Tax system (Goods and Services Tax) Act 1999 (GST Act)?
Answer
Yes. The sale of your enterprise was the sale of a going concern.
Relevant facts and circumstances
You sold your enterprise as a sale of a going concern.
Relevant legislative provisions
A New Tax System (Goods and Services Tax Act) 1999 – Subdivision 38-J