Private ruling: GST and supply of a going concern
Date of advice: 28 July 2020
Published: September 2020

Ruling: Q1: Is the assignment of an Interest by Entity A to Entity B, in accordance with a Deed, a GST-free supply of a going concern in accordance with section 38-325 of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act)? | A1: Yes. | Q2: Is the assignment of an Interest by Entity B to Entity A, in accordance with a Deed, a GST-free supply of a going concern in accordance with section 38-325 of the GST Act? | A2: Yes.


Relevant legislative provisions: A New Tax System (Goods and Services Tax) Act 1999 subdivision 38-J; | A New Tax System (Goods and Services Tax) Act 1999 subsection 38-325(1); and | A New Tax System (Goods and Services Tax) Act 1999 subsection 38-325(2).


Subject: GST and supply of a going concern: The Commissioner has ruled on each of the following questions.