Document ID: chunk:federal_register_of_legislation:C2025C00126:section:4:p2
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 4 (pt 2/42)
Character Range: 430219–432741

of a GST joint venture
 (2A) If:
 (a) you acquired the interest, unit or lease in question at a time when you were a *participant in a *GST joint venture and the entity from whom you acquired it was the *joint venture operator of the joint venture; and
 (b) you acquired the interest, unit or lease for consumption, use or supply in the course of activities for which the joint venture was entered into; and
 (c) on or after 1 July 2000, there has been a supply (an earlier supply) of the interest, unit or lease to the entity from whom you acquired it (whether or not that entity was the joint venture operator of the joint venture at the time of that acquisition);
the margin for the supply you make is the amount by which the *consideration for the supply exceeds:
 (d) the consideration for the last such earlier supply, if the supplier and the *recipient were not *associates at the time of the earlier supply; or
 (e) the *GST inclusive market value of the interest, unit or lease at that time, if the 2 entities were associates at that time.
 (2B) If:
 (a) you acquired the interest, unit or lease in question at a time when you were a *participant in a *GST joint venture and the entity from whom you acquired it was the *joint venture operator of the joint venture; and
 (b) you acquired the interest, unit or lease for consumption, use or supply in the course of activities for which the joint venture was entered into; and
 (c) subsection (2A) does not apply;
the margin for the supply you make is the amount by which the *consideration for the supply exceeds an *approved valuation of the interest, unit or lease as at 1 July 2000.

Margin for supply of real property acquired from deceased estate
 (3) If:
 (a) you acquired the interest, unit or lease in question by *inheriting it; and
 (b) none of subsections (1) to (2B) applies; and
 (c) the entity from whom you inherited the interest, unit or lease (the deceased) acquired it before 1 July 2000;
the margin for the supply you make is the amount by which the *consideration for the supply exceeds:
 (ca) if you know what was the consideration for the supply of the interest, unit or lease to the deceased and you choose to use that consideration to work out the margin for the supply—that consideration; or
 (d) if paragraph (ca) does not apply and, immediately before the time at which you inherited the interest, unit or lease, the deceased was neither *registered nor *required to be registered—an *approved valuation of the interest, unit or lease as