29. GST inclusive purchase price – Seller pays GST

(a) The parties acknowledge and agree that the purchase price is inclusive of goods and services tax (GST) payable in respect of the supply of the property to the Buyer.

(b) The Seller shall pay the GST in respect of the supply of the property to the Buyer when the same is due.

(c) The Seller shall not apply the Margin Scheme as calculated pursuant to Division 75 (“the Margin Scheme”) of the New Tax System (Goods and Services) Tax Act and he Seller shall be entitled to any input tax credits.