The ATO has amended the following Practice Statements

  • PS LA 2005/2 (GA) was amended on 14 April 2014 to remove reference to a number of fact sheets and replace with GSTR 2006/7. The Practice Statement explains when the Commissioner may accept that an entity, which did not choose to apply the margin scheme to work out the GST on a taxable supply of real property until after it made the supply, may account for GST as if the margin scheme applies.

[LTN 75, 22/4/14]