Taxation Laws Amendment Act (No. 8) 2000 (156 of 2000)

Schedule 6   Other amendments

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

28   Subsection 78-65(1)

Omit "to the extent that the payment is made in settlement of a claim under an*insurance policy under which the entity is not insured", substitute:

to the extent that:

(a) the payment is made in settlement of a claim under an*insurance policy under which the entity is not insured; and

(b) the payment is to discharge a liability owed to that entity by the entity insured.