GST and the margin scheme

Sales of property you make on or after 29 June 2005

Sales of property using the margin scheme that are made from 29 June 2005 onwards require a written agreement between the seller and purchaser to use the margin scheme.

As a seller, you must agree in writing before the settlement date, with the purchaser to sell the property under the margin scheme. Prior to the 29 June 2005 there was no requirement to agree in writing with the purchaser to use the margin scheme, but records must be kept that indicate you made a choice to sell the property using the margin scheme.

The change in eligibility rules that apply from 17 March 2005 onwards, continue to apply to sales from 29 June 2005 onwards, see 'Sales of property you make on or after 17 March 2005'.

Sections within Working out the margin and GST payable

• Sales of property you originally purchased before 1 July 2000
• Sales of property you originally purchased on or after 1 July 2000
• Sales of property you make on or after 17 March 2005
• Sales of property you make on or after 29 June 2005
• Sales of property you originally purchased on or after 9 December 2008
• Property you purchased as a mixed supply
• Working out the purchase price for subdivided land