{"id":"F2005L01808","name":"A New Tax System (Goods and Services Tax) Margin Scheme Valuation Requirements Determination MSV 2005/2","slug":"a-new-tax-system-goods-and-services-tax-margin-scheme-valuation-requirements-determination-msv-2005-","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":35994,"registerId":"commonwealth-F2005L01808-current","compilationNumber":null,"startDate":"2026-04-01","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"A New Tax System (Goods and Services Tax) Margin Scheme Valuation Requirements Determination MSV 2005/2","content":"A New Tax System (Goods and Services Tax) Margin Scheme Valuation Requirements Determination\n\nMSV 2005/2\n\nI, Neil Edward Mann, make the following determination for the purposes of paragraph 75-10(3)(b) of the A New Tax System (Goods and Services Tax) Act 1999 (‘the GST Act’).  \n\nCitation\n\n1\\. This determination may be cited as the A New Tax System (Goods and Services Tax) Margin Scheme Valuation Requirements Determination MSV 2005/2.  \n\nCommencement\n\n2\\. This determination commences on 1 July 2005.  \n\nExtension of costs of completion method – pre 1 July 2005 contracts\n\n3\\. This determination extends the availability of Method 2 – Value as determined using costs of completion method (‘the costs of completion method’) in the A New Tax System (Goods and Services Tax) Margin Scheme Valuation Requirements Determination (No.2) 2000 to the calculation of GST on supplies made after 1 July 2005 under contracts entered into before 1 July 2005.  \n\n4\\. A valuation therefore complies with the requirements for making valuations for the purposes of Division 75 of the GST Act if the valuation is made:\n\n(a) in accordance with the costs of completion method; and\n\n(b) for the purposes of calculating GST on a supply made under a contract entered into before 1 July 2005, if the supplier could have used the costs of completion method under the A New Tax System (Goods and Services Tax) Margin Scheme Valuation Requirements Determination (No.2) 2000 but for the supply being made after 1 July 2005.\n\nDated this 27th day of June 2005\n\nSigned by Neil Edward Mann  \nDeputy Commissioner and  \nDelegate of the Commissioner","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1617},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"The determination maintains its original narrow purpose of extending a specific valuation method to pre-existing contracts. It has not expanded beyond this transitional grandfathering function."},"complexity_factors":["Only 4 operative sections","Single transitional measure with clear date thresholds (pre/post 1 July 2005)","Minimal cross-referencing (only references to parent GST Act and one prior determination)","No nested exceptions or conditional logic beyond the contract date requirement"],"plain_english_summary":"This determination preserves a developer-friendly GST outcome by allowing the \"costs of completion\" way of working out the GST Margin to apply to contracts signed before 1 July 2005 even if settlement occurred after that date. It protects property developers and pre‑GST (pre‑1 July 2000) landowners who entered contracts before 1 July 2005 from losing that favorable margin treatment due solely to settlement timing."}},"importantCases":[],"_links":{"self":"/api/acts/a-new-tax-system-goods-and-services-tax-margin-scheme-valuation-requirements-determination-msv-2005-","history":"/api/acts/a-new-tax-system-goods-and-services-tax-margin-scheme-valuation-requirements-determination-msv-2005-/history","analysis":"/api/acts/a-new-tax-system-goods-and-services-tax-margin-scheme-valuation-requirements-determination-msv-2005-/analysis","conflicts":"/api/acts/a-new-tax-system-goods-and-services-tax-margin-scheme-valuation-requirements-determination-msv-2005-/conflicts","importantCases":"/api/acts/a-new-tax-system-goods-and-services-tax-margin-scheme-valuation-requirements-determination-msv-2005-/important-cases","documents":"/api/acts/a-new-tax-system-goods-and-services-tax-margin-scheme-valuation-requirements-determination-msv-2005-/documents"}}