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-E - Statutory compensation schemes  

78-95   GST on premiums etc. under statutory compensation schemes is exclusive of stamp duty  

(1)  
The *value of a *taxable supply of membership of, or participation in, a *statutory compensation scheme is worked out as if the *price of the supply were reduced by the amount of any stamp duty payable under a *State law or *Territory law in respect of the supply.

(2)  
This section has effect despite section 9-75 (which is about the value of taxable supplies).




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