Legislative developments – 2011 – Reforms to the GST margin scheme

Summary

  • In the 2010-11 Budget the Government announced an intention to restructure the margin scheme provisions to clarify and simplify the current provisions, with effect from 1 July 2012, and to make a minor technical amendment to ensure that a valuation can be obtained for the purposes of using the margin scheme for subdivided land

Links to documents

Press release

Discussion paper

  • Discussion Paper – 10 December 2010 – Implementation of the recommendations of Treasury’s review of the GST margin scheme – 10 December 2010
  • Submissions on Discussion Paper
  1. CPA Australia
  2. Institute of Chartered Accountants in Australia
  3. Law Council of Australia
  4. Law Society of New South Wales
  5. Master Builders Australia Ltd
  6. National Institute of Accountants
  7. Property Council of Australia
  8. Real Estate Institute of Australia
  9. Taxation Institute of Australia

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