Document ID: chunk:federal_register_of_legislation:C2005A00078:clause:6_16:p3
Version: federal_register_of_legislation:C2005A00078
Segment Type: clause
Provision Reference: sch 6 cl 16 (pt 3/4)
Character Range: 26790–29324

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 on or after 1 July 2000;
the margin for the supply you make is the amount by which the *consideration for the supply exceeds:
 (d) 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
 (e) if paragraph (d) does not apply—an *approved valuation of the interest, unit or lease as at the day on which the deceased acquired it.

Margin for supply of real property acquired from associate

 (7) If:
 (a) you acquired the interest, unit or lease in question from an entity who was your *associate at the time of the acquisition; and
 (b) none of the other subsections of this section apply;
the margin for the supply you make is the amount by which the *consideration for the supply exceeds:
 (c) if your acquisition was made before 1 July 2000—an *approved valuation of the interest, unit or lease as at 1 July 2000; or
 (d) if your acquisition was made on or after 1 July 2000—the *GST inclusive market value of the interest, unit or lease at the time of the acquisition.

 (8) Subsection (7) applies to an acquisition through a supply made by:
 (a) a *GST branch; or
 (b) a*non‑profit sub‑entity; or
 (c) a *government entity of a kind referred to in section 72‑95 or 72‑100;
as if Subdivision 72‑D affected the operation of subsection (7) in the same way that it affects the operation of Division 72.

75‑12  Working out margins to take into account failure to pay full consideration

  In working out the *margin for a *taxable supply of *real property you make (the later supply), if:
 (a) you had acquired the interest, unit or lease in question through a supply (the earlier supply); and
 (b) the *consideration for:
 (i) if your acquisition was not an acquisition from a *member of a *GST group of which you were also a member at the time of the acquisition—the earlier supply; or
 (ii) if your acquisition was such an acquisition—the last supply of the interest, unit or lease at a time when the supplier of that last supply was not, but the *recipient of that last supply was, a member of the GST group;
  had not been paid in full at the time of the later supply;
treat the amount of the consideration as having been reduced by the amount of unpaid consideration referred to in paragraph