I would appreciate any input from the Accountants or knowledgeable persons on the following query: “A Family Trust” (AFT) owns a small commercial property. It is leased but has been advertised for sale for an extended period with minimal inquiries, so a sale is looking unlikely given there are no apparent buyers. AFT is registered for GST and the sale would also be subject to GST. As other assets of AFT have now been disposed, AFT is no longer being used to full advantage and the costs (accounting/ASIC/lodgement etc) of maintaining AFT are considered to outweigh any benefits given this is now the only asset in AFT. Hence it is therefore intended to close AFT and its Trustee Company once the property is disposed. Query: Although the preference is to sell the property to a third party and close AFT, other than the costs of stamp duty on transfer, what are the financial implications if the property was sold or transferred to a family member at market value? Obviously, CGT would be applicable to AFT. AFT could then be closed in the current FY and the new owner could either hold the property or sell it in the future at a more convenient time. However, if the new owner were a family member it is unlikely they would be registered for GST. If the stamp duty costs were not prohibitive to the new owner, could there be any future advantage in not having to apply GST on a lease or future sale?