A New Tax System (Goods and Services Tax) Act 1999
Note:Division 80 - Settlement sharing arrangements Subdivision 80-A - Insurance policy settlement sharing arrangements 80-15 Effect of contributing operator ' s payment (1)
A * contributing operator ' s payment is not treated as * consideration for a supply by the * managing operator , or for an acquisition by the * contributing operator . (2)
This section has effect despite section 9-15 (which is about consideration) and section 11-5 (which is about what is a creditable acquisition).
S 80-15 inserted by No 67 of 2003, s 3 and Sch 11 item 18, applicable in relation to net amounts for tax periods starting on or after 1 July 2000.
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