Craig

And we are looking at, in particular, a going concern exemption for a commercial property.

And to help break it all down, we have Sam Saad, partner and owner of Clinch Long Woodbridge Lawyers at clw.com.au.

Good morning, Sam.

Welcome back to the Real Estate Podcast.

Firstly, let's look at an area within a property transaction that often has people confused, which is GST, and in particular, when GST applies to property negotiations.

And perhaps explain to the audience who might not know what a sale of a going concern actually means.

Gee, you must find that a lot of those trustees, as you mentioned, are not GST because that is such a big problem, isn't it?

It has that dominoes effect if you're not registered.

And how can a property purchase be GST exempt as a sale of a going concern?

And in what circumstances does the exemption not apply?

Boy, that part of premises with the lease, that is such a good one to know.

I mean, when it comes to commercial property, there are just so many hooks to it that people have just got to engage with a lawyer to make sure that everything is just covered off, that the T's are crossed, the I's are dotted.

Good on you, Sam.

Well, thanks again.

There's plenty of information to take away, particularly if you are thinking about buying commercial property.

Look forward to chatting in a couple of weeks' time.

Thanks, Craig.

You too.

And welcome to another episode of the Real Estate Podcast available on iHeartRadio every morning, also on Spotify and Apple and wherever you get your podcasts from.

It is a Wednesday morning, the 13th day of July for 2022.