Commonwealth Consolidated Acts
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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 78.55
Payments of excess under insurance policies are not consideration for supplies
(1) The making of any payment by an entity is not treated as *
consideration for a supply, to the entity or any other entity, to the extent
that the payment is the payment of an excess to the insurer under an *
insurance policy.
(2) This section has effect despite section 9 - 15 (which
is about consideration).
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