This seminar paper covers the following key points:
- why the Going Concern concession exists
- consequences if practitioner or client makes a mistake
- the Going Concern exemption and the differences between GSTR 2001/5 and GSTR 2002/5
- what constitutes an enterprise and how the exemption impacts on enterprises conducted by partnerships, trusts and companies
- the ATO's concessions with regard to premises, statutory licences and permits
- when mortgagees can make use of the exemption
- when are the risks associated with using the concession worth taking and what alternative strategies exist.
- why the Going Concern concession exists
- consequences if practitioner or client makes a mistake
- the Going Concern exemption and the differences between GSTR 2001/5 and GSTR 2002/5
- what constitutes an enterprise and how the exemption impacts on enterprises conducted by partnerships, trusts and companies
- the ATO's concessions with regard to premises, statutory licences and permits
- when mortgagees can make use of the exemption
- when are the risks associated with using the concession worth taking and what alternative strategies exist.
This significant technical paper has been prepared as part of a major rewrite of the GST & Property Series in the Institutes' Blue Journal to be published later this year.