Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 188.25

    In working out your * projected GST turnover, disregard:

  (a)   any supply made, or likely to be made, by you by way of transfer of ownership of a capital asset of yours; and

  (b)   any supply made, or likely to be made, by you solely as a consequence of:

  (i)   ceasing to carry on an * enterprise; or

  (ii)   substantially and permanently reducing the size or scale of an enterprise.