Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 78.115

    This Division (other than sections   78 - 5 and 78 - 95) does not apply to an * insurance policy, or to a payment or supply made in settlement of a claim made under an insurance policy, if:

  (a)   the policy was supplied under a scheme for insurance, or a * statutory compensation scheme, established by an * Australian law; and

  (b)   that scheme is of a kind specified in the regulations.