Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 78.30

  (1)   An acquisition is not a * creditable acquisition if:

  (a)   the insurer makes the acquisition:

  (i)   to the extent that the acquisition is an acquisition of goods--solely for the purpose of supplying the goods in the course of settling a claim under an * insurance policy; or

  (ii)   otherwise--solely for a purpose directly related to settling a particular claim under an * insurance policy; and

  (b)   the supply of the insurance policy by the insurer was * GST - free.

  (2)   This section has effect despite section   11 - 5 (which is about what is a creditable acquisition).