Insurers and GST - completing your activity statement



This guide provides information for insurers.

It is designed to be used in conjunction with GST - completing your activity statement.

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This information will help you complete the goods and services tax (GST) section of your activity statement. It includes a series of examples illustrating how to treat an insured event occurring on or after 1 July 2000, and how to complete your activity statement.

Colour-coded flowcharts are used to show the transactions associated with each example. The flowcharts show:

  • acquisitions in red
  • settlements and decreasing adjustments in green
  • policy premiums in blue
  • excess payments in pink
  • increasing adjustments in grey
  • subrogation and recoveries in dark red.

The following abbreviations are used in this guide.

DA - decreasing adjustment

IA - increasing adjustment

FSL - fire service levy

ITC - input tax credits

All division and section references used in this guide are to A New Tax System (Goods and Services Tax) Act 1999.

It is assumed in the examples that where you (the insurer) contract with a supplier, the requirements of GSTR 2006/10External Link Goods and services tax: insurance settlements and entitlements to input tax credits are met.

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GST - completing your activity statement .

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    Last modified: 30 May 2014QC 16293