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A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules

Part 4-2 - Special rules mainly about supplies and acquisitions

Note:

The special rules in this Part mainly modify the operation of Part 2-2, but they may affect other Parts of Chapter 2 in minor ways.

Division 79 - Compulsory third party schemes

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Subdivision 79-C - Other payments and supplies under compulsory third party schemes

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79-85  Supplies of goods to operators in the course of settling claims

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(1)

A supply of goods is not a *taxable supply if it is solely a supply made under a *compulsory third party scheme to an *operator of the scheme in the course of settling a claim for compensation made under the scheme.

(2)

In working out the value of a *taxable supply that is partly a supply of goods made under a *compulsory third party scheme to an *operator of the scheme in the course of settling a claim for compensation made under the scheme, 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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History S 79-85 inserted by No 67 of 2003, s 3 and Sch 11 item 18, applicable in relation to net amounts for tax periods starting on or after 1 July 2000.