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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 80.25

Contributing operator's payment

             (1)  For the purposes of Divisions 78 and 79, a * contributing operator's payment is treated as follows.

             (2)  If the * contributing operator is a party to the * insurance policy settlement sharing arrangement because it issued only one * insurance policy, the * contributing operator's payment is treated as a payment or supply, made by the contributing operator, in settlement of a claim relating to the accidents or incidents, under that insurance policy.

Example:    Assume the same facts as in the example in section 80-20. The contributing operator who issued 1 of the 3 policies covering the vehicles in the accident makes a payment to the managing operator.

For the purposes of Division 78 or 79, the payment (except to the extent that it represents a managing operator's fee) will be treated as being made by the contributing operator under the insurance policy that it issued.

             (3)  If the * contributing operator is a party to the * insurance policy settlement sharing arrangement because it issued 2 or more * insurance policies, the * contributing operator's payment is treated as a payment or supply, made by the contributing operator, in settlement of a claim relating to the accidents or incidents, under the insurance policies, and for that purpose is divided among the policies in equal proportions.



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