A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules  

Part 4-2 - Special rules mainly about supplies and acquisitions  


The special rules in this Part mainly modify the operation of Part 2-2 , but they may affect other Parts of Chapter 2 in minor ways.

Division 78 - Insurance  

Subdivision 78-B - Insured entities etc.  

78-55   Payments of excess under insurance policies are not consideration for supplies  

The making of any payment by an entity is not treated as * consideration for a supply, to the entity or any other entity, to the extent that the payment is the payment of an excess to the insurer under an * insurance policy .

This section has effect despite section 9-15 (which is about consideration).

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