44 GST Any reference in this clause to a term defined or used in the A New Tax System (Goods and Services Tax) Act 1999 is, unless the context indicates otherwise, a reference to that term as defined or used in that Act. Unless expressly excluded, the consideration for any taxable supply made by a party under or in connection with this Contract includes GST. The Vendor and the Purchaser agree that the Margin Scheme shall be applied in calculating the amount of any GST payable in respect of any supply made under this Contract. The Purchaser acknowledges that no entitlement arises to an input tax credit in relation to any supply made under this Contract, for which the GST has been calculated pursuant to the Margin Scheme. GST Withholding (1)
The Vendor must use all reasonable endeavours to give a GST Withholding Notice to the Purchaser at least 5 Business Days before Settlement.
(2)
If the GST Withholding Notice specifies that the Purchaser is required to make a payment on account of GST to the Commissioner, then the Purchaser must pay the GST Withholding Amount to the Commissioner from the Balance of the Price payable to the Vendor on Settlement.
(3)
If the Purchaser pays the GST Withholding Amount in accordance with this Special Condition 18, the Vendor will not be entitled to delay Settlement or refuse to effect Settlement.
(4)
The Vendor must notify the Purchaser whether the GST Withholding Amount must be paid by way of: (a)
bank cheque in accordance with Special Condition 18.5(6);
(b)
immediately available funds in accordance with Special Condition 18.5(7); or
(c)
on-line conveyancing facility in accordance with Special Condition 18.5(8).
(5)
(6)
If Special Condition 18.5(2) applies, then, at least 2 Business Days before Settlement, the Purchaser must provide to the Vendor: (a)
evidence of having lodged a Purchaser Withholding Notification Form with the Commissioner;
(b)
the relevant payment reference number; and
(c)
the Purchaser’s lodgement reference number. If the GST Withholding Notice states that the GST Withholding Amount must be paid by bank cheque, then:
