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  #   020-096 - GST Buying And Selling A Business Going Concern

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  The going concern is a Goods and Services Tax (GST) concession which results in the sale/purchase of a business being a GST free transaction. This is important in the fact that transfer duty is applied at the sale/purchase price of the business which includes the GST in the transaction value and ca ...[Read more](#hikashop_show_tabular_description)

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 The going concern is a Goods and Services Tax (GST) concession which results in the sale/purchase of a business being a GST free transaction.

This is important in the fact that transfer duty is applied at the sale/purchase price of the business which includes the GST in the transaction value and can add additional costs to the deal of purchasing a business. This paper covers GST Buying and Selling a Business (Going Concern) under the following headings:

- Definition
- Conditions
- Issues Regarding Completion Of The Sale
- Additional Consideration
- Professional Advice