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:
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. If this clause 11.6 applies:
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. 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. 16.4 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. Clawback
Margin Scheme. If in Item 16 the margin scheme is agreed to apply to the sale of the Land, then:
Margin Scheme. (a) The purchase price is inclusive of GST calculated by reference to the margin scheme.
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.
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.
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.
