Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An * operator of a * compulsory third party scheme has a decreasing adjustment if the operator makes a * CTP compensation or ancillary payment or supply under the scheme.
(2) However, this section only applies if:
(a) the payments of * CTP premium to the * operator that have been or are required to be made under the scheme are, or would be, * consideration for a * taxable supply; and
(b) the * operator is * registered or * required to be registered.
(3) The * decreasing adjustment in relation to the payment or supply is worked out using the applicable * average input tax credit fraction (see section 79 - 95).