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  • Requests for more time

    If you did not apply the margin scheme by the time the sale was made, you may ask to account for GST on the sale as if the margin scheme applied. To do this, write to us at:

    Australian Taxation Office
    PO Box 3524
    ALBURY  NSW  2640

    You must show that:

    • you did not choose to apply the margin scheme on or before the date you sold the property because of a mistake
    • you satisfy all other requirements under the margin scheme
    • the purchaser cannot claim a GST credit or a decreasing adjustment for the purchase
    • you and the purchaser did not agree on a price that included GST
    • you are not making the agreement to avoid paying GST.

    We will write to let you know whether or not you may use the margin scheme on your sale.

    If you requested an extension of time to work out the GST payable on the sale of property as if the margin scheme applies, then you should keep the following:

    • any written request made to us for more time to choose the margin scheme
    • our response.
      Last modified: 19 Jun 2018QC 18646