Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 78.42

                   Division 19 applies in relation to an * increasing adjustment that an insurer has under section 78-18 as if:

                     (a)  payments of excess under an * insurance policy to which the adjustment relates were * consideration for a * taxable supply that the insurer made; and

                     (b)  the adjustment were the GST payable on the taxable supply; and

                     (c)  any refund of that payment of excess made by the insurer were a reduction in the consideration for the supply.