GST-Free on Sale of Business

The Sale of a Business as a Going Concern is GST-FREE if:

  • everything for the business’ continued operation is supplied to the buyer
  • the seller carries on the business until the day it is sold
  • the buyer is registered or required to be registered for GST
  • the sale is for payment
  • before the sale, the buyer and seller agree in writing that the
  • sale is of a going concern

For further details, please view the attached “Guide to Small Business – GST for small business prepared by the Australian Taxation Office”. Refer to page 11 and 12.

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