Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 79.60

             (1)  If an * operator of a * compulsory third party scheme makes a payment under the scheme, it is not treated as * consideration:

                     (a)  for an acquisition made by the operator; or

                     (b)  for a supply made to the operator by the entity to whom the payment was made;

to the extent that the payment is a * CTP compensation or ancillary payment or supply.

             (2)  If an * operator of a * compulsory third party scheme makes a supply under the scheme:

                     (a)  it is not a * taxable supply; and

                     (b)  it is not treated as * consideration for an acquisition made by the operator; and

                     (c)  it is not treated as * consideration for a supply made to the operator by the entity to whom the supply was made;

to the extent that the supply is a * CTP compensation or ancillary payment or supply.

             (3)  This section has effect despite section 9-5 (which is about what are taxable supplies), section 9-15 (which is about consideration) and section 11-5 (which is about what is a creditable acquisition).