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 79 - Compulsory third party schemes  

Subdivision 79-C - Other payments and supplies under compulsory third party schemes  

79-85   Supplies of goods to operators in the course of settling claims  

(1)  
A supply of goods is not a * taxable supply if it is solely a supply made under a * compulsory third party scheme to an * operator of the scheme in the course of settling a claim for compensation made under the scheme.

(2)  
In working out the value of a * taxable supply that is partly a supply of goods made under a * compulsory third party scheme to an * operator of the scheme in the course of settling a claim for compensation made under the scheme, 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).


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.