Document ID: chunk:federal_register_of_legislation:C2005A00078:clause:6_16:p2
Version: federal_register_of_legislation:C2005A00078
Segment Type: clause
Provision Reference: sch 6 cl 16 (pt 2/4)
Character Range: 24468–27007

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 associates at that time.

 (2B) 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) subsection (2A) 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 deceased estate

 (3) If:
 (a) you acquired the interest, unit 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 before 1 July 2000;
the margin for the supply you make is the amount by which the *consideration for the supply exceeds:
 (ca) 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
 (d) if paragraph (ca) does not apply and, immediately before the time at which you inherited the interest, unit or lease, the deceased was neither *registered nor *required to be registered—an *approved valuation of the interest, unit or lease as at the latest of:
 (i) 1 July 2000; or
 (ii) the day on which you inherited the interest, unit or lease; or
 (iii) the first day on which you registered or were required to be registered; or
 (e) if paragraph (ca) does not apply and, immediately before the time at which you inherited the interest, unit or lease, the deceased was registered or required to be registered—an approved valuation of the interest, unit or lease as at the later of:
 (i) 1 July 2000; or
 (ii) the first day on which the deceased registered or was required to be registered.

 (4) If:
 (a) you acquired the interest, unit 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