A New Tax System (Goods and Services Tax) Act 1999
Chapter 4
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The special rules
Part 4-2
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Special rules mainly about supplies and acquisitions
An acquisition of a freehold interest in land, a * stratum unit or a * long-term lease is not a * creditable acquisition if the supply of the interest, unit or lease was a * taxable supply under the * margin scheme .
(2)
This section has effect despite section 11-5 (which is about what is a creditable acquisition).
Note:
The special rules in this Part mainly modify the operation of Part 2-2 , but they may affect other Parts of Chapter 2 in minor ways.
Division 75 - Sale of freehold interests etc. 75-20 Supplies under a margin scheme do not give rise to creditable acquisitions (1)An acquisition of a freehold interest in land, a * stratum unit or a * long-term lease is not a * creditable acquisition if the supply of the interest, unit or lease was a * taxable supply under the * margin scheme .
(2)
This section has effect despite section 11-5 (which is about what is a creditable acquisition).
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