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-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.

(2)  
This section has effect despite section 9-15 (which is about consideration).


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