Commonwealth Consolidated Acts

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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 78.115

Exclusion of certain Commonwealth, State or Territory insurance schemes

                   This Division (other than sections 78-5 and 78-95) does not apply to an * insurance policy, or to a payment or supply made in settlement of a claim made under an insurance policy, if:

                     (a)  the policy was supplied under a scheme for insurance, or a * statutory compensation scheme, established by an * Australian law; and

                     (b)  that scheme is of a kind specified in the regulations.



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