Realisation of property that qualifies under the Margin Scheme.

Example of sale:

- Sale Price: $1,500,000

- Previous Sale Price: $717,500

- Margin: $782,500

- GST Liability paid at settlement (7%) - $105,000

- Actual GST Liability under the Margin Scheme - $71,136

Enter the realisation of the property in full as shown below, without a GST code so that nothing is included on the BAS for this.

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Then under the Accounts tab: create a revenue asset realisation account with GST as the tax code. Enter the profit margin amount as per below:

Here is the resulting BAS

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