A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules  

Part 4-2 - Special rules mainly about supplies and acquisitions  

Note:

The special rules in this Part mainly modify the operation of Part 2-2 , but they may affect other Parts of Chapter 2 in minor ways.

Division 80 - Settlement sharing arrangements  

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80-1   What this Division is about  

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A series of adjustments arise if, under an arrangement, an operator of a compulsory third party scheme settles a claim, arising from one or more accidents or other incidents, covered by the arrangement and other operators are obliged to contribute payments to that operator in respect of the settlement.

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History

S 80-1 inserted by No 67 of 2003, s 3 and Sch 11 item 18, applicable in relation to net amounts for tax periods starting on or after 1 July 2000.

Table of Subdivisions

80-A	Insurance policy settlement sharing arrangements
80-B	Nominal defendant settlement sharing arrangements
80-C	Hybrid settlement sharing arrangements

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