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GST - supply of a going concern The Commissioner was asked to rule on: Will the supply of your interest in the assets be a GST-free supply of a going concern for the purposes of section 38-325 of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act)? The Commissioner ruled that: The supply will be a GST-free supply of going concern under section 38-325 of the GST Act.

All the following requirements under section 38-325 of the GST Act were satisfied. • the supply is for consideration; • the recipient is registered or required to be registered for GST; • the supplier and recipient agree in writing that the supply is a going concern; • under the arrangement between the parties, the supplier carries on the enterprise until the date of the supply; and • under the arrangement, the supplier supplies the recipient with all the things necessary for the enterprise's continued operation.

You are registered for GST

A New Tax System (Goods and Services Tax) Act 1999 section 9-20 A New Tax System (Goods and Services Tax) Act 1999 section 38-325 A New Tax System (Goods and Services Tax) Act 1999 section 195-1

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