Private ruling: Going concern
Date of advice: 31 August 2018
Published: October 2018

Ruling: Q1: 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)? | A1: 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