Problem
Barissa is interested in buying a large commercial building in Keiraville shopping village, for $1.6 million, from Long. The current tenant has been operating one of its several offices in the building for many years. There is no formal written lease in relation to the premises, and the tenant pays a fixed rental sum to Long. As Barissa would not be able to afford to pay additional GST on the purchase, she comes to you for advice on the arrangement generally before she goes ahead. Explain whether the going concern exemption under S38-325(1) of the GST Act (the supply of a going concern) might apply in this case.