Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 78.20

             (1)  If, in settlement of a claim under an * insurance policy, an insurer makes one or more of the following:

                     (a)  a payment of * money;

                     (b)  a payment of * digital currency;

                     (c)  a supply;

the payment or supply is not treated as * consideration for an acquisition made by the insurer.

             (2)  This section has effect despite section 11-5 (which is about what is a creditable acquisition).