GST issues registers

Insurance industry partnership

23 Recipient created tax invoices

Issue

Can recipient created tax invoices be used in the insurance industry where the recipient of the supply is under the $20 million turnover test in the RCTI ruling?

Non-interpretative - straight application of the law.

ATO view

Yes, as long as all the other conditions in the RCTI ruling are met. See the Commissioner's determination issued to the ICA on behalf of the industry: RCTI 2017/3 Ceding Insurers or Reinsurers.

See also:

•

RCTI 2015/14 - regarding general insurance agents

•

RCTI 2016/27 - regarding general insurance sub-agents

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