Document ID: chunk:federal_register_of_legislation:C2025C00126:section:4:p8
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 4 (pt 8/42)
Character Range: 444286–446928

do not give rise to creditable acquisitions
 (1) An acquisition of a freehold interest in land, a *stratum unit or a *long‑term lease is not a *creditable acquisition if the supply of the interest, unit or lease was a *taxable supply under the *margin scheme.
 (2) This section has effect despite section 11‑5 (which is about what is a creditable acquisition).

75‑22  Increasing adjustment relating to input tax credit entitlement
 (1) You have an increasing adjustment if:
 (a) you make a *taxable supply of *real property under the *margin scheme; and
 (b) an acquisition that you made of part of the interest, unit or lease in question was made through a supply that was *ineligible for the margin scheme; and
 (c) you were, or are, entitled to an input tax credit for the acquisition.
The amount of the increasing adjustment is an amount equal to the *previously attributed input tax credit amount for the acquisition.
 (2) You have an increasing adjustment if:
 (a) you make a *taxable supply of *real property under the *margin scheme; and
 (b) you acquired all or part of the interest, unit or lease in question by inheriting it; and
 (c) the entity from whom you inherited (the deceased) had acquired part of the interest, unit or lease that you inherited through a supply that was *ineligible for the margin scheme; and
 (d) the deceased was entitled to an input tax credit for that acquisition.
The amount of the increasing adjustment is an amount equal to the *previously attributed input tax credit amount for the acquisition.
 (3) You have an increasing adjustment if:
 (a) you make a *taxable supply of *real property under the *margin scheme; and
 (b) an acquisition that you made of part of the interest, unit or lease in question was made through a supply that was *ineligible for the margin scheme because of paragraph 75‑5(3)(e), (f) or (g); and
 (c) the entity from whom you made the acquisition had been entitled to an input tax credit for its acquisition.
 (4) You have an increasing adjustment if:
 (a) you make a *taxable supply of *real property under the *margin scheme; and
 (b) the acquisition that you made of the interest, unit or lease in question:
 (i) was made through a supply that was *GST‑free under Subdivision 38‑J or Subdivision 38‑O; or
 (ii) was made through a supply (other than a taxable supply) from your *associate without *consideration and in the course or furtherance of an *enterprise that your associate *carried on; or
 (iii) was made from your associate but not by means of a supply from your associate; and
 (c) the entity from whom you acquired the interest, unit or lease:
 (i) acquired