A New Tax System (Goods and Services Tax) Act 1999
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).
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