Margin Scheme Sample Clauses

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. 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. (2) the Seller: (a) must apply the Margin Scheme to the Supply of the Property; and (b) warrants that the Margin Scheme is able to be applied; (3) if the Seller breaches clause 11.6(2)(a) or its warranty under clause 11.6(2)(b) then: (a) the Buyer may terminate this contract if it becomes aware of the breach prior to the Settlement Date; (b) if the Buyer does not terminate this contract under clause 11.6(3)(a) or does not become aware of the breach until after the Settlement Date, it must pay to the Seller an amount equal to the Input Tax Credit which the Buyer will receive for GST payable for the Supply of the Property. Payment must be made when the Buyer receives the benefit of the Input Tax Credit; (c) the Buyer is entitled to compensation from the Seller if there is a breach of clause 11.6(2).

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. (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. 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. 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. 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. The purchase price is inclusive of GST calculated by reference to the margin scheme.

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.