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GST: The Going Concern Exemption

Published on 01 Feb 2007 | Took place at City West Function Centre, West Perth, WA

The supply of a going concern is a GST-free supply provided the legislative requirements are satisfied. Whilst at first blush the exemption may seem straightforward, there are a number of practical difficulties facing parties seeking to obtain the exemption. The issues surrounding obtaining the exemption are complex and practitioners advising parties acquiring or disposing of a business or enterprise should be aware of all the issues.

The aim of this session was to provide practitioners with a thorough review of the going concern exemption.

Individual sessions

Ongoing concern with the going concern GST exemption

Author(s):  Graeme COTTERILL

This paper covers:

  • the legislative requirements for the exemption
  • recent developments
  • an examination of when there has been a supply of all things necessary for the continued operation of the enterprise
  • issues relevant to the contractual arrangements between the parties
  • problems which can arise where a sale involves multiple parties.
Materials from this session: