Document ID: chunk:federal_register_of_legislation:C2025C00126:section:4:p1
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 4 (pt 1/42)
Character Range: 427945–430421

4                                      The supplier is the Commonwealth, a State or a Territory and has held the interest, unit or lease since before 1 July 2000, and there were no improvements on the land or premises in question as at 1 July 2000.  The day on which the *taxable supply takes place

 (3A) If:
 (a) the circumstances specified in item 4 in the second column of the table in subsection (3) apply to the supply; and
 (b) there are improvements on the land or premises in question on the day on which the *taxable supply takes place;
the valuation is to be made as if there are no improvements on the land or premises on that day.
 (4) This section has effect despite section 9‑70 (which is about the amount of GST on taxable supplies).
Note: Section 9‑90 (rounding of amounts of GST) can apply to amounts of GST worked out using this section.

75‑11  Margins for supplies of real property in particular circumstances

Margin for supply of real property acquired from fellow member of GST group
 (1) If:
 (a) you acquired the interest, unit or lease in question at a time when both you and the entity from whom you acquired it were *members of the same *GST group; and
 (b) on or after 1 July 2000, there has been a supply (an earlier supply) of the interest, unit or lease that occurred at a time when the supplier was not a member of the GST group; and
 (ba) the *recipient was at that time, or subsequently became, a member of the GST group;
the margin for the supply you make is the amount by which the *consideration for the supply exceeds:
 (c) the consideration for the last such earlier supply, if the supplier and the recipient were not *associates at that time; or
 (d) the *GST inclusive market value of the interest, unit or lease at that time, if the 2 entities were associates at that time.
 (2) If:
 (a) you acquired the interest, unit or lease in question at a time when both you and the entity from whom you acquired it were *members of the same *GST group; and
 (b) subsection (1) 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 joint venture operator 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