GST issues registers

Insurance industry partnership

12 Section 78-50

Issue

Section 78-50 includes the expression 'since the last payment of a premium' relating to the date of advising of the taxable percentage. What is added by these words? Is the relevant taxable percentage based on the latest policy or the policy at the time of the claims event?

Non-interpretative - straight application of the law.

ATO view

It is the time the first claim is made under the policy in question that is relevant.

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