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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 78.60

Supplies of goods to insurers in the course of settling claims

  (1)   A supply of goods is not a * taxable supply if it is solely a supply made under an * insurance policy to an insurer in the course of settling a claim under the policy.

  (2)   In working out the value of a * taxable supply that is partly a supply of goods made under an * insurance policy to an insurer in the course of settling a claim under the policy, disregard the * consideration to the extent that it relates to the supply of those goods.

  (3)   This section has effect despite section   9 - 5 (which is about what are taxable supplies) and section   9 - 75 (which is about the value of taxable supplies).


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