Margin Scheme. If the Purchaser, by notice in writing to the Vendor not less than 28 days prior to Settlement, requests the Vendor to apply the margin scheme to the sale of the Land, then:
13.2.1 the Vendor and the Purchaser agree to apply the margin scheme to the sale of the Land;
13.2.2 the Purchaser will pay to the Vendor an additional amount on account of GST as calculated under the margin scheme;
13.2.3 the additional amount referred to in Special Condition 13.2.2 is to be paid or provided by the Purchaser to the Vendor at the earlier of:
(a) the time when the consideration to which the additional amount relates must be paid or provided by the Purchaser to the Vendor under this Agreement; and
(b) 7 days prior to the time the GST on that supply must be included in the GST return for the Vendor;
13.2.4 the Purchaser shall, where a valuation is required under Division 75 of the GST Law:
(a) obtain at its expense, in the name of the Vendor, a valuation of the Land which complies with the requirements of Division 75 of the GST Law using the valuation method approved by the Vendor; and
(b) provide the valuation to the Vendor not less than 28 days prior to Settlement;
13.2.5 the Vendor is not required to provide the Purchaser with a tax invoice at Settlement; and
13.2.6 the Purchaser acknowledges that the acquisition of the Land is not a creditable acquisition and the Purchaser is not entitled to claim an input tax credit.
Margin Scheme. We and you agree that the Margin Scheme is to apply in working out the amount of any GST on the sale of the Property by us under this Contract. You acknowledge that you will not be entitled to an input tax credit for the acquisition of the Property under this Contract.
Margin Scheme. Warning The Seller is warranting that the Margin Scheme can apply. If in doubt about using the Margin Scheme you should seek professional advice.
(1) the Purchase Price includes the Seller’s liability for GST on the Supply of the Property. The Buyer is not obliged to pay any additional amount to the Seller on account of GST on the Supply of the Property;
Margin Scheme. (a) The parties acknowledge that the Seller may (in its absolute discretion) apply the margin scheme in relation to the Purchase Price for this Contract.
(b) If the Seller applies the margin scheme, the Seller will at its expense and before Settlement obtain a valuation of the property as at 1 July 2000 (or other relevant date) that complies with the requirements of the GST Act (including any ruling or determination made by the Commissioner of Taxation).
(c) The Buyer acknowledges that it will not be entitled to claim an input tax credit for any amount of GST the Buyer pays to or reimburses to the Seller where the margin scheme is applied.
(d) This Condition will not merge on completion of this Contract and will survive settlement and any termination of this Contract by either the Seller or the Buyer.
Margin Scheme. If in Item 16 the margin scheme is agreed to apply to the sale of the Land, then:
26.1 the Purchaser's obligation to pay or reimburse GST to the Vendor as regards the sale of the Land is based on the margin under the margin scheme;
26.2 the Purchaser must, where a valuation is required under Division 75 of the GST Law:
26.2.1 obtain at its expense, in the name of the Vendor, an approved valuation of the Land using the valuation method approved by the Vendor; and
26.2.2 provide the approved valuation to the Vendor not less than 5 Business Days prior to Settlement;
26.3 as regards the sale of the Land, the Vendor need not provide a tax invoice to the Purchaser at Settlement; and
26.4 the acquisition of the Land is not a creditable acquisition, and the Purchaser is not entitled to claim an input tax credit.
Margin Scheme. Subject to clause 16.5 of this Agreement, the parties acknowledge and agree that if indicated as such in Item 5(c) of the Reference Schedule, the margin scheme applies to the sale of the Property and the Purchaser acknowledges and agrees that it will not be provided with a tax invoice at settlement and it is not entitled to any input tax credits in respect of any GST in relation to the supply of the Property under this Agreement. However, the Vendor may (in its complete discretion and without having to give the Purchaser any reason) revoke the agreement in this clause 16.4 by giving notice to the Purchaser at any time up to settlement.
Margin Scheme. Provided that the Vendor is eligible, the parties agree that the GST payable on a taxable supply of the Property will be calculated by the Vendor using the Margin Scheme under Division 75 of the GST Act. The parties agree that if the Margin Scheme applies the Purchaser will (at the Purchaser's cost) obtain the valuation of the Property.
Margin Scheme. The Vendor and the Purchaser agree that the margin scheme applies to the sale of the Unit and the FF & E as provided for in the GST Law and the Vendor is not obliged to provide a tax invoice to the Purchaser in respect of any such GST.
Margin Scheme. You and we agree (to the extent it is lawful) we will apply the margin scheme to the supply of the Property under this Contract. This clause 14.3 shall be deemed as being written consent to the application of the margin scheme.
