GST issues registers
Insurance industry partnership19 Layered policies
Issue
Layered policies are those where an insured takes out cover in separate layers, for example, zero to $1 million in one layer, $1 million to $5 million in another layer, and $5 million and over in a last layer. Each layer is a separate policy. Are they separate supplies for GST purposes?
Non-interpretative - straight application of the law.
ATO view
Yes
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