A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 78.105 Meaning of statutory compensation scheme

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 78.105

    A statutory compensation scheme is a scheme or arrangement:

  (a)   that is established by an * Australian law; and

  (b)   under which compensation is payable for particular kinds of injury, loss or damage; and

  (c)   that is specified in the regulations, or that is of a kind specified in the regulations;

but does not include a * compulsory third party scheme.

Note:   Divisions   79 and 80 deal with compulsory third party schemes.