• 4.c. Compulsory third party insurance

    4.c. (i) Is an entity entitled to claim an input tax credit in respect of compulsory third party insurance premiums paid before 1 July 2003?

    Non-interpretative - other references (see paragraph 140 onwards of GSTR 2006/10External Link - Goods and services tax: insurance settlements and entitlement to input tax credits).

    No. An entity is unable to claim an input tax credit for the GST on premiums paid for compulsory third party insurance before 1 July 2003.

    4.c. (ii) Is an entity entitled to claim an input tax credit in respect of compulsory third party insurance premiums paid on or after 1 July 2003?

    Non-interpretative - other references (see paragraph 140 onwards of GSTR 2006/10External Link - Goods and services tax: insurance settlements and entitlement to input tax credits).

    An entity may only claim an input tax credit for the GST on compulsory third party insurance premiums if the period of insurance which is being paid commences on or after 1 July 2003.

      Last modified: 07 Jun 2012QC 16411