Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 79.20

Payments or supplies in settlement of claims

  (1)   For the purposes of sections   78 - 35, 78 - 40 and 78 - 75, a reference in those sections to a payment or supply made by an entity in settlement of a claim by an insurer in exercising the insurer's rights of subrogation in respect of an * insurance policy includes a reference to a payment or supply that satisfies the following requirements:

  (a)   the payment or supply is made by an entity in settlement of a claim by an * operator of a * compulsory third party scheme;

  (b)   the claim was made by the operator in exercise of the operator's rights to recover in respect of a payment or supply made under the compulsory third party scheme;

  (c)   the claim was not made under an * insurance policy that is a policy of reinsurance.

Payments or supplies in compliance with court judgments etc. relating to claims

  (2)   For the purposes of section   78 - 110, a reference in that section to a payment or supply made by an entity in compliance with a judgment or order of a court relating to a claim made by an insurer in exercising the insurer's rights of subrogation in respect of an * insurance policy includes a reference to a payment or supply that satisfies the following requirements:

  (a)   the payment or supply is made by an entity in compliance with a judgment or order of a court relating to a claim made by an * operator of a * compulsory third party scheme;

  (b)   the claim was made by the * operator in exercise of the operator's rights to recover a payment or supply made under the * compulsory third party scheme;

  (c)   the claim was not made under an insurance policy that is a policy of reinsurance.