A New Tax System (Goods and Services Tax) Act 1999
Note:Division 80 - Settlement sharing arrangements Subdivision 80-A - Insurance policy settlement sharing arrangements 80-20 Managing operator ' s payments or supplies (1)
For the purposes of Divisions 78 and 79 , a *managing operator ' s payment or supply is treated as follows. (2)
If the * managing operator is a party to the * insurance policy settlement sharing arrangement because it issued only one * insurance policy , the * managing operator ' s payment or supply is treated as a payment or supply, made by the managing operator, in settlement of a claim relating to the accidents or incidents, under that insurance policy. (3)
If the * managing operator is a party to the * insurance policy settlement sharing arrangement because it issued 2 or more * insurance policies , the * managing operator ' s payment or supply is treated as a payment or supply made by the managing operator, in settlement of a claim relating to the accidents or incidents, under the insurance policies, and for that purpose is divided among the policies in equal proportions.
3 vehicles are involved in an accident, 2 of which are covered by insurance policies issued by the managing operator and the other by a policy issued by a contributing operator. The managing operator makes a payment in settlement of a claim by an insured person in respect of the accident.
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