LAND TAX/MARGIN SCHEME
Land Tax – Corporate Sellers (Acting for Seller Company or Trust)
Notwithstanding any other clause, any adjustments of land tax shall be calculated on the basis that the Seller is a company and not a natural person.
Apply the Margin Scheme – Buyer:
The Purchase Price is inclusive of GST and the Seller cannot claim any extra amount from the Buyer in respect of GST. The Buyer acknowledges that the Seller may use the margin scheme under Division 75 of the GST Act to calculate the GST payable by the Seller in respect of the Purchase Price
Apply the Margin Scheme – Seller:
The Seller elects to apply the Margin Scheme under Division 75 of the GST Act to calculate the GST payable by the Seller in respect of the Purchase Price