GSTR 2000/D19

GSTR 2000/D19ER - Erratum

Goods and services tax: insurance settlements by making supplies of goods or services

• Please note that the PDF version is the authorised version of this draft ruling.

FOI status:

may be released

Erratum

At Paragraph 8 - Sentence 3

Delete the word 'is not' and substitute the words 'may be'.

The sentence should now read:

'The insurer may be entitled to a decreasing adjustment on the supply of the voucher in settlement of the claim.'

At Paragraph 46 - Sentence 2

Delete the words 'will not' and substitute the words 'may be'.

The sentence should now read:

'The insurer may be entitled to a decreasing adjustment on the supply of the voucher in settlement of the claim.'

At Paragraph 47 - Sentence 2

Insert '(other than taxable supplies)' after the word 'supplies'.

Delete the words 'to which section 78-25 applies'.

Delete the word 'not'.

The sentence should now read:

'It states that the GST inclusive market value of supplies (other than taxable supplies) made in settlement of a claim are included in working out the decreasing adjustment.'

At Paragraph 49 - Sentence 3

Delete the word 'or' and substitute the words 'but may be entitled to'.

The sentence should now read:

'XYZ Insurance Co is not entitled to an input tax credit but may be entitled to a decreasing adjustment.'

At Paragraph 50 - Sentence 3

Delete the words 'As discussed above at paragraphs 44 to 47'.

Add the word 'not' after the words 'the insurer is'.

The sentence should now read:

'The insurer is not entitled to a decreasing adjustment on the supply of the voucher to the insured in settlement of the claim.'

At Paragraph 67 - Sentence 2

Delete '64 to 67'

Insert '61 to 63'

Commissioner of Taxation
5 July 2000

References

ATO references:
NO T2000/4313

Related Rulings/Determinations:

GSTR 2000/D19