A New Tax System (Goods and Services Tax) Act 1999
38‑325 Supply of a going concern38‑325 Supply of a going concern
Start here
Get a plain-English read of 38‑325 Supply of a going concern
Turn the raw legal text into a practical explanation grounded in A New Tax System (Goods and Services Tax) Act 1999.
38‑325 Supply of a going concern
(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 registered; and (c) the supplier and the recipient have agreed in writing that the supply is of a going concern. (2) A supply of a going concern is a supply under an arrangement under which: (a) the supplier supplies to the *recipient all of the things that are necessary for the continued operation of an *enterprise; and (b) the supplier carries on, or will carry on, the enterprise until the day of the supply (whether or not as a part of a larger enterprise carried on by the supplier).