#9412
MICHAEL MACKENROTH
Participant

    The legislation says “required to be registered”. If the rent is $5,200 per month, it is below the GST threshhold and therefore is not required to be registered. I would think that would kill the going concern argument. It is not uncommon for such contracts to contain a clause such that the transaction is treated as a GST free transaction, however, in the event that proves not to be the case, then the purchaser agrees to pay the GST. Secondly is realising a capital asset by sale carrying on an enterprise?

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