Question: Whether or not GST is included in the purchase of a business. Total purchase price is $240,000 for goodwill and plant and equipment? Answer:
In short, the answer depends on 'The supply of a business as a going concern is GST-free if certain requirements are met. This means that if you sell a business as a going concern GST is not payable on the sale'. To read more about the conditions involved please click here.
