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).