Problem? Can you sell your premises to your current tenant (lessee) and still claim the ‘as a going concern’ GST exemption? In short the answer is no. According to GSTR2002/5 the owner of an enterprise which consists solely of leasing of property cannot make a supply of a going concern when supplying the property subject to the lease to the lessee. This is because the requirements of a going concern require all things necessary for the continual operation to be supplied, in this case provision of the property and all covenants attaching to it (including the lease). The all things necessary requirement cannot be met where the existing tenant is the purchaser as you are unable to assign the benefit … Continue reading GST and Going Concern on Leased Premises