The ATO on Mon 10.12.2012, released a Decision Impact Statement on the decision in AAT Case [2012] AATA 763, Re SDI Group Pty Ltd and FCT.
In that case, the AAT held that a transaction in relation to the sale of a commercial property met the requirements of a going concern under s 38-325 of the GST Act. Accordingly, it set aside the Commissioner’s decision and held there was no tax shortfall. Broadly, the ATO said the finding was open to the Tribunal on the evidence and does not differ in principle from the requirements outlined in GST Ruling GSTR 2002/5 (When is a “supply of a going concern” GST-free).
[LTN 239, 10/12]