Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 78.45

             (1)  If, in settlement of a claim under an * insurance policy, an insurer:

                     (a)  makes a payment of * money; or

                     (b)  makes a supply; or

                     (c)  makes both a payment of money and a supply;

the payment or supply is not treated as * consideration for a supply made by the entity insured, or by any entity (other than the entity insured) that was entitled to an input tax credit for the premium paid for the insurance policy.

             (2)  This section has effect despite section 9-15 (which is about consideration).