A New Tax System (Goods and Services Tax) Margin Scheme Valuation Requirements Determination 2020
3. Application3. Application
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3. Application
This determination specifies the requirements for making valuations for the purposes of applying the margin scheme in Division 75 of the GST Act. The requirements apply to valuations for taxable supplies of real property made on or after 1 March 2010.
This determination also specifies requirements for making valuations obtained by the Commissioner for the purposes of applying the margin scheme in specified circumstances. The requirements apply to valuations for taxable supplies of property made before and on or after 1 March 2010.