Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 38.325

  (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).