A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules  

Part 4-2 - Special rules mainly about supplies and acquisitions  

Note:

The special rules in this Part mainly modify the operation of Part 2-2 , but they may affect other Parts of Chapter 2 in minor ways.

Division 75 - Sale of freehold interests etc.  

75-16   Margins for supplies of real property acquired through several acquisitions  

(1)  
If:


(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 ;

(ii) subsection 75-11(1) , (2) , (2A) , (2B) , (3) , (4) , (5) , (6) or (7) ;

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.


 

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