GST issues registers
Insurance industry partnership14 Co-insurance
Issue
Is it correct to treat coinsurance as an agency arrangement with the lead insurer retaining the documentation for the input tax credits but advising the fellow co-insurers of their share of the input tax credits and GST liability?
Non-interpretative - other references
See also:
- •
- GSTR 2000/37 Goods and services tax: agency relationships and the application of the law.
- •
- GSTR 2004/2 Goods and services tax: What is a joint venture for GST purposes?
ATO view
Whether coinsurance arrangements are treated as agency is a question of fact in each case. See also the separate examples on the GST treatment of coinsurance available on the ATO web site.
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