This addendum updates GST Ruling GSTR 2006/6 to align with a recent court decision, clarifying that the margin scheme for GST applies to individual freehold interests within a land parcel, even when sold together. The ruling provides assurance to taxpayers who rely on it, ensuring consistent application of the law without additional tax, penalties, or interest. Minor editorial changes and the addition of new paragraphs have been made to the ruling for clarity and to incorporate the court’s findings.
Source: ato.gov.au
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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