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Great example MIW & as per Peterw if the owner isn't registered then there's no input credit.

No problem Peter.

GST is paid by the purchaser & required to be remitted by the vendor. If the purchase is for a going concern, the buyer must be registered or required to be registered for gst. law.ato.gov.au/atolaw/view.htm?Docid=GST/GSTR20025/NAT/ATO/00001&PiT=99991231235958

I would have thought that registration for gst would have been a requirement if you were seeking the going concern exemption as this is a condition to meet exemption. A non-registered party would pay the tax on top of the purchase price.