Question: Small distribution business
Answer: Depends. If you are buying a business that is operating before, when and after the acquisition (the term is "acquisition of a going concern"), then there is no GST. Whether an acquisition is a going concern or not is a question of fact. Basically, the business is running all the way through the "change of hands". So when employees, plant & equipments, stocks were part and parcel of the acquisition, that can be a sign. Hope the above helps. The contract of purchase should also outline that the acquisition is an acquisition of going concern. Don't forget to have a chat with your solicitor that is handling the matter....
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