A New Tax System (Goods and Services Tax) Regulations 2019
Schedule 2
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Examples of financial supply
A supply mentioned, or a supply of something mentioned, in the following table that relates to the matter mentioned in item 6 of the table in subsection 40-5.09(3) , or to an incidental financial supply, is an example of a supply of an interest in or under that matter, or of an incidental financial supply.
Note:
See section 40-5.11 .
CLAUSE 4 4 Examples for item 6 of the table in subsection 40-5.09(3) (life insurance business)A supply mentioned, or a supply of something mentioned, in the following table that relates to the matter mentioned in item 6 of the table in subsection 40-5.09(3) , or to an incidental financial supply, is an example of a supply of an interest in or under that matter, or of an incidental financial supply.
| Life insurance business | |
| Item | Examples |
| 1 | A contract of insurance that provides for the payment of money on the death of a person or on the happening of a contingency dependent on the termination or continuance of human life |
| 2 | A contract of insurance that is subject to payment of premiums for a term dependent on the termination or continuance of human life |
| 3 | A contract of insurance for a term dependent on the termination or continuance of human life that provides for the payment of an annuity |
| 4 | A contract that provides for the payment of an annuity for a term not dependent on the continuance of a human life |
| 5 | A continuous disability policy within the meaning of section 9A of the Life Insurance Act 1995 |
| 6 | A contract (whether or not a contract of insurance) that constitutes an investment account contract, or an investment-linked contract, within the meaning of section 14 of the Life Insurance Act 1995 |
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