Document ID: chunk:federal_register_of_legislation:C2025C00126:section:4:p26
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 4 (pt 26/42)
Character Range: 488130–490909

payable under a *State law or *Territory law in respect of the supply.
 (2) This section has effect despite section 9‑75 (which is about the value of taxable supplies).

79‑45  Exclusion of certain compulsory third party schemes
  This Subdivision (other than section 79‑40) does not apply to a *compulsory third party scheme under which *CTP compensation or ancillary payments or supplies are made, or to a *CTP compensation or ancillary payment or supply, if the compulsory third party scheme is of a kind specified in the regulations.

79‑50  Decreasing adjustments for CTP compensation or ancillary payments or supplies
 (1) An *operator of a *compulsory third party scheme has a decreasing adjustment if the operator makes a *CTP compensation or ancillary payment or supply under the scheme.
 (2) However, this section only applies if:
 (a) the payments of *CTP premium to the *operator that have been or are required to be made under the scheme are, or would be, *consideration for a *taxable supply; and
 (b) the *operator is *registered or *required to be registered.
 (3) The *decreasing adjustment in relation to the payment or supply is worked out using the applicable *average input tax credit fraction (see section 79‑95).

79‑55  Increasing adjustments for payments of excess etc. under compulsory third party schemes
 (1) An *operator of a *compulsory third party scheme has an increasing adjustment if:
 (a) there is a payment of an excess to the operator under the scheme; and
 (b) the payment relates to a *CTP compensation payment or supply that the operator makes or has made; and
 (c) the operator makes, or has made, *creditable acquisitions or *creditable importations directly for the purpose of making the CTP compensation payment or supply.
 (2) The amount of the increasing adjustment is 1/11 of the amount that represents the extent to which the payment of excess relates to *creditable acquisitions or *creditable importations made by the *operator directly for the purpose of making the *CTP compensation payment or supply.
 (3) An *operator of a *compulsory third party scheme has an increasing adjustment if:
 (a) there is a payment of an excess to the operator under the scheme; and
 (b) the operator makes, or has made, *creditable acquisitions or *creditable importations directly for the purpose of making a *CTP compensation payment or supply to which the payment of excess would relate; and
 (c) the operator has not made any CTP compensation payment or supply to which the payment of excess relates.
The amount of the increasing adjustment is 1/11 of the amount of the payment of excess.

79‑60  Effect of settlements and payments under compulsory third party schemes
 (1) If an *operator of a *compulsory third party scheme makes a payment