Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 2 - Collection, recovery and administration of income tax  

PART 2-5 - PAY AS YOU GO (PAYG) WITHHOLDING  

Division 14 - Benefits, gains and taxable supplies for which amounts must be paid to the Commissioner  

Subdivision 14-E - GST payable on taxable supplies of certain real property  

SECTION 14-250   RECIPIENTS OF CERTAIN TAXABLE SUPPLIES OF REAL PROPERTY MUST PAY AMOUNTS TO COMMISSIONER  

Liability to pay an amount

14-250(1)    
You must pay to the Commissioner an amount if:

(a) you are the recipient (within the meaning of the *GST Act) of a *taxable supply that is, or includes, a *supply to which subsection (2) applies; and

(b) in a case where the supply is a supply of *potential residential land - either:

(i) you are not registered (within the meaning of that Act); or

(ii) you do not acquire the thing supplied for a *creditable purpose.

14-250(2)    
This subsection applies to a *supply, by way of sale or long-term lease (within the meaning of the *GST Act), of:

(a) *new residential premises that:

(i) have not been created through *substantial renovations of a building; and

(ii) are not *commercial residential premises; or

(b) *potential residential land that:

(i) is included in a *property subdivision plan; and

(ii) does not contain any building that is in use for a commercial purpose;

other than a supply that is of a kind determined by the Commissioner under subsection (3).

14-250(3)    
The Commissioner may, by legislative instrument, determine that subsection (2) does not apply to a kind of *supply specified in the determination.

When the amount must be paid

14-250(4)    
You must pay the amount on or before:

(a) the day on which:

(i) any of the *consideration for the *supply (other than consideration provided as a deposit) is first provided; or

(ii) if the supplier is your *associate, and the supply is without consideration - the supply is made; or

(b) if a determination under subsection (5) applies - the day provided under that determination.

14-250(5)    
The Commissioner may determine, by legislative instrument, circumstances in which amounts under this section are to be paid on or before the day provided under the determination. The determination may provide for amounts to be paid in instalments.

The amount to be paid

14-250(6)    
The amount to be paid to the Commissioner is an amount equal to:

(a) if the *margin scheme applies to the *supply:

(i) the percentage, of the amount provided under subsection (7), determined by the Minister under subsection (8); or

(ii) if there is no such determination - 7% of the amount provided under subsection (7); or

(b) otherwise - 1/11 of the amount provided under subsection (7).

14-250(7)    
For the purposes of paragraphs (6)(a) and (b), the amount is:

(a) if the contract for the *supply specifies an amount (the contract price ) that is the *price for the supply, subject to normal adjustments that apply on completion of transactions of that kind - that contract price; or

(b) otherwise - the *price for the supply.

14-250(8)    
The Minister may, by legislative instrument, determine a percentage exceeding 7%, but not exceeding 9%, for the purposes of subparagraph (6)(a)(i).

14-250(9)    
Despite subsection (6), if:

(a) the supplier is your *associate; and

(b) the *supply is without *consideration or is for consideration that is less than the *GST inclusive market value;

the amount to be paid to the Commissioner is an amount equal to 10% of the *GST exclusive market value (within the meaning of the *GST Act) of the supply.

14-250(10)    
Despite subsections (6) and (9), if:

(a) the *supply does not consist solely of one or more supplies to which subsection (2) applies; and

(b) it is practicable to ascertain, at the time any of the *consideration for the supply (other than consideration provided as a deposit) is first provided, the amount (the reduced amount ) of the amount provided under subsection (6) or (9) that relates to supplies to which subsection (2) applies;

the amount provided under subsection (6) or (9) is taken (other than for the purposes of this subsection) to be the reduced amount.

Multiple recipients

14-250(11)    
If there is more than one recipient (within the meaning of the *GST Act) of the *supply (the original supply ):

(a) treat each recipient as being the recipient of a separate supply; and

(b) treat the amount under subsection (6), (9) or (10) (as the case requires) for such a separate supply as being the same proportion of that amount for the original supply, as the proportion of the original supply that is constituted by that separate supply.

Treat recipients who are joint tenants as a single recipient for the purposes of this subsection.