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  Miscellaneous 2008

GST and the sale of a business

Source: Western Australia

Published Date: 27 Mar 2008

 

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This paper covers:

  • GST-free treatment of the supply of a going concern (which is fraught with danger)
  • does the sale of a business form part of your GST turnover? What are the implications of this?
  • why would vendors want to apply the "supply of a going concern" provisions?
  • what if you supply things other than those that are necessary for the enterprise to continue? Will they be GST-free as well?
  • what is the GST position if the purchaser assumes liabilities as a condition of sale?
  • what if you "supply" other things as part of the sale? How are they treated for GST purposes?
  • stamp duty issues for the purchaser, especially in the context of the Duties Bill 2007 which is expected to be implemented from 1 July 2008.
Author(s)

Individual Session

GST and the sale of a business

Author(s): Tony Ince CTA
Materials from this session:

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Details

  • Published By: Tony Ince CTA
  • Published On:27 Mar 2008
  • Took place at:Perth Convention Centre

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