GST Margin Scheme for Property Developments
Under the margin scheme, GST is calculated on the sale as 1/11th of the margin. The margin is the GST inclusive sale price less the original purchase price, whereby previously GST was not able to be claimed.
The Margin Scheme is provide for under Div. 75 of the New Tax System (Goods and Service Tax) Act 1999 (GST Act).
Margin Scheme is available on the sale (taxable supply) of real property by –
* selling freehold interest in land
* selling stratum titled units
* granting or