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  

Note:

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.  

78-60   Supplies of goods to insurers in the course of settling claims  

(1)  
A supply of goods is not a * taxable supply if it is solely a supply made under an * insurance policy to an insurer in the course of settling a claim under the policy.

(2)  
In working out the value of a * taxable supply that is partly a supply of goods made under an * insurance policy to an insurer in the course of settling a claim under the policy, disregard the * consideration to the extent that it relates to the supply of those goods.

(3)  
This section has effect despite section 9-5 (which is about what are taxable supplies) and section 9-75 (which is about the value of taxable supplies).




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