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Thanks everyone for clearing it up

Thanks Terry (yes we went ahead with it :))

Ok just to clarify because it's still not entirely clear to me. I won't get slapped with a 10% GST bill for the purchase right?

No. Solicitor said it was fine. Seemed to conflict with ATO page on going concerns though. Does it make a difference if it was a sale of property only and not a business?

I recently purchased a commercial property under personal name. The property has long term tenants who continue to rent the place. There are no lease contracts in place and we'd like to keep it that way. I am not registered for G.S.T and am not required to at this point (Total rent is not...