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What are the eligibility requirements of the supply of a going concern?

April 26, 2017eligibility going concern requirements supply

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What are the eligibility requirements of the supply of a going concern?

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A supply of a going concern will be GST-free if: • The buyer is registered for GST purposes • The supply is made for consideration (eg. $$) • Both parties sign a written agreement which states that the supply is GST-free.The supplier must: • supply to the purchaser all of the things necessary for the continued operation of the enterprise • carry on the enterprise until the day of the supply.

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A supply of a going concern will be GST-free if: The buyer is registered for GST purposes; The supply is made for consideration eg. and Both parties sign a written agreement which states that the supply is GST-free. The supplier must: supply to the purchaser all of the things necessary for the continued operation of the enterprise; and carry on the enterprise until the day of the supply.