Document ID: chunk:federal_register_of_legislation:C2008A00145:clause:1_4:p2
Version: federal_register_of_legislation:C2008A00145
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 2/3)
Character Range: 5862–8457

real property acquired from associate

 (6) If:
 (a) you acquired the interest, unit or lease in question from an entity who was your *associate, and who was *registered or *required to be registered, at the time of the acquisition; and
 (b) the acquisition from your associate was without *consideration; and
 (c) the supply by your associate was not a *taxable supply; and
 (d) your associate made the supply in the course or furtherance of an *enterprise that your associate *carried on; and
 (e) none of subsections (1) to (5) applies;
the margin for the supply you make is the amount by which the consideration for the supply exceeds:
 (f) if your associate had acquired the interest, unit or lease before 1 July 2000 and on that day was registered or required to be registered:
 (i) if you choose to apply an *approved valuation to work out the margin for the supply—an approved valuation of the interest, unit or lease as at 1 July 2000; or
 (ii) if subparagraph (i) does not apply—the *GST inclusive market value of the interest, unit or lease as at 1 July 2000; or
 (g) if your associate had acquired the interest, unit or lease on or after 1 July 2000 and had been registered or required to be registered at the time of the acquisition:
 (i) if your associate's acquisition was for consideration and you choose to apply an approved valuation to work out the margin for the supply—an approved valuation of the interest, unit or lease as at the day on which your associate had acquired it; or
 (ii) if your associate's acquisition was for consideration and subparagraph (i) does not apply—that consideration; or
 (iii) if your associate's acquisition was without consideration—the GST inclusive market value of the interest, unit or lease at the time of the acquisition; or
 (h) if your associate had not been registered or required to be registered at the time of your associate's acquisition of the interest, unit or lease (and paragraph (f) does not apply):
 (i) if you choose to apply an approved valuation to work out the margin for the supply—an approved valuation of the interest, unit or lease as at the first day on which the entity was registered or required to be registered; or
 (ii) if subparagraph (i) does not apply—the GST inclusive market value of the interest, unit or lease as at that day.

 (6A) Paragraphs (6)(c) and (d) do not apply if the acquisition from your *associate was not by means of a supply by your associate.

 (6B) To avoid doubt, you cannot be taken, for the purposes of paragraph (5)(f) or (6)(h), to be *registered or *required to be registered on a