GST-free supplies of going concerns

$165.00

Clients are often keen to access the GST-free going concern exemption – it provides substantial cashflow benefits and savings on stamp duty. However, advisers need to be careful as the deceptively simple legislative provisions often give rise to complexities in practice.

In this webinar, we will work through case studies to help you advise clients and manage their current and potential risks – as well as making sure you don’t inadvertently take on any of their risks as your own!

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Clients are often keen to access the GST-free going concern exemption – it provides substantial cashflow benefits and savings on stamp duty. However, advisers need to be careful as the deceptively simple legislative provisions often give rise to complexities in practice.

In this webinar, we will work through case studies to help you advise clients and manage their current and potential risks – as well as making sure you don’t inadvertently take on any of their risks as your own!

We will cover:

  • what risks to watch out for including:
    • what is ‘necessary’ for the continued operation of the enterprise
    • how to ‘supply’ things that are incapable of assignment
    • whether the exemption can apply where there are multiple vendors or multiple purchasers
  • particular issues for leasing and farming enterprises
  • navigating the risks of COVID-19 – including business sales during lockdown, mortgagee sales, and implications for JobKeeper
  • how to manage risks in the contract
  • making sure your clients are aware of any adverse adjustments under Divisions 129 and 135
  • implications for the margin scheme.

After the webinar, you should be able to advise clients on how to meet the conditions for a GST-free supply of a going concern, and provide your clients with options for managing any risks.

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