WebAns: Is the sale of a business a GST Taxable Supply?-Section 9-5 GST Act-Section 38-325 GST Act There are a number of points that have to be satisfied which include: GST (section 38-325 GST Act) (1) The * supply of a going concern is GST-free if: (a) the supply is for * consideration; and (b) the * recipient is * registered or * required to be ... WebThe fact that part of the land used for a vineyard is also GST-free under section 38-325 of the GST Act does not detract from the characterisation of the land for the purpose of …
GSTR 2003/13 Legal database
http://classic.austlii.edu.au/au/legis/cth/consol_act/antsasta1999402/ WebIf an administrator, receiver or liquidator is appointed, Division 58 of the GST Act would apply and then the representative would need to satisfy the requirements of section 38-325 of the GST Act in its own capacity. riche reve toyohira
Selling your business as a going concern Bower Wood
WebSection 75-35 of the GST Act provides for the Commissioner to determine, in writing, the requirements for making valuations for the purposes of Division 75 and that a valuation made in accordance with these requirements is an approved valuation. ... Greenwood J considered the expression 'the day of the supply' as it appears in subsection 38-325 ... WebIf the supply of the enterprise meets the requirements of section 38-325, it is a supply of a going concern that is GST-free. Operation of the partnership. ... (Reliance Carpet) the High Court noted that, under section 9-15 of the GST Act, consideration includes, among other things, any payment 'in connection with' a supply of anything. Web38. Since the ongoing supply under the lease is input taxed, it is neither a taxable supply nor a GST-free supply. Consequently, if the sale of residential premises subject to a lease is GST-free under section 38-325 or section 38-480, the purchaser has an increasing adjustment under Division 135 where the lease is to continue. richer foods