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GSTR 2001/D2: GST Consequences of a Supply of a Going Concern

Published on 09 Apr 01 by THE TAX INSTITUTE

Subdivision 38-J (section 38-325) of the A New Tax System (Goods and Services Tax) Act 1999, which confers GST-free status on the supply of a going concern, is poorly drafted. The Australian Taxation Office ('ATO') in GSTR 2001/D2 has tried as far as possible to take a practical approach to solving some of the problems arising from the poor drafting of Subdivision 38-J. To a large extent this has been achieved in the draft ruling. However, there are still difficulties and issues arising from or not addressed in the draft ruling, as discussed below.

For a copy of the reply to the joint submission, please click here

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INSTITUTE OF CHARTERED ACCOUNTANTS IN AUSTRALIA
Current at 19 November 2004 Click here to expand/collapse more articles by INSTITUTE OF CHARTERED ACCOUNTANTS IN AUSTRALIA.
 
NATIONAL INSTITUTE OF ACCOUNTANTS
Current at 19 November 2004

TAXPAYERS AUSTRALIA INC
Current at 19 November 2004

TAX POLICY & RESEARCH DIVISION
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CPA AUSTRALIA
Current at 19 November 2004

 

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