Document ID: chunk:federal_register_of_legislation:C2005A00078:clause:6_16:p1
Version: federal_register_of_legislation:C2005A00078
Segment Type: clause
Provision Reference: sch 6 cl 16 (pt 1/4)
Character Range: 22214–24688

16  After section 75‑10
Insert:

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 *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 interest, unit or lease at that time, if the 2 entities were