Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 78.35

Taxable supplies relating to rights of subrogation

  (1)   If, in settlement of a claim made by an insurer in the insurer's exercising of rights of subrogation in respect of an * insurance policy, an entity that is not insured under the policy 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 a supply made by the insurer (whether or not the payment or supply is made to the insurer) or by the entity insured.

  (2)   This section has effect despite section   9 - 15 (which is about consideration).


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback