A New Tax System (Goods and Services Tax) Act 1999
Note:Division 75 - Sale of freehold interests etc. 75-16 Margins for supplies of real property acquired through several acquisitions (1)
(a) you make a * taxable supply of * real property under the * margin scheme ; and
(b) the interest, unit or lease in question is one that you acquired through 2 or more acquisitions ( partial acquisitions ); and
(c) one of the following provisions (a margin provision ) applies in relation to such a partial acquisition, or would so apply if the partial acquisition had been an acquisition of the whole of the interest, unit or lease:
(i) section 75-10 ;
the margin provision applies, in working out the margin for the supply you make, only to the extent that the supply is connected to the partial acquisition.(2)
The application of a margin provision in relation to one of the partial acquisitions does not prevent that margin provision or a different margin provision applying in relation to another of the partial acquisitions.
S 75-16 inserted by No 145 of 2008, s 3 and Sch 1 item 9, effective 9 December 2008. For application provision, see history note under s 75-5(1B).
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