GST and the margin scheme

Sales of property you make on or after 17 March 2005

Eligibility to use the margin scheme changed for sales of property made from 17 March 2005 onwards. This means, you cannot use the margin scheme if you:

• purchased the property as fully taxable and the margin scheme was not used
• inherited the property from a person who could not use the margin scheme
• obtained the property from a member of the same GST group who could not use the margin scheme, or
• obtained the property, as a participant in a GST joint venture, from the joint venture operator who could not use the margin scheme.

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