A New Tax System (Goods and Services Tax) Act 1999
Chapter 4
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The special rules
Part 4-2
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Special rules mainly about supplies and acquisitions
If, in settlement of a claim made by an insurer in the insurer ' s exercising of rights of subrogation in respect of an *insurance policy, an entity that is not insured under the policy makes one or more of the following:
(a) a payment of *money;
(b) a payment of *digital currency;
(c) a supply;
(2)
This section has effect despite section 9-15 (which is about consideration).
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-A - Insurers 78-35 Taxable supplies relating to rights of subrogation (1)If, in settlement of a claim made by an insurer in the insurer ' s exercising of rights of subrogation in respect of an *insurance policy, an entity that is not insured under the policy makes one or more of the following:
(a) a payment of *money;
(b) a payment of *digital currency;
(c) a supply;
the payment or supply is not treated as *consideration for a supply made by the insurer (whether or not the payment or supply is made to the insurer) or by the entity insured.
View history note
Hide history noteThis section has effect despite section 9-15 (which is about consideration).
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