Document ID: chunk:federal_register_of_legislation:C2010C00583:clause:11_18:p16
Version: federal_register_of_legislation:C2010C00583
Segment Type: clause
Provision Reference: sch 11 cl 18 (pt 16/18)
Character Range: 141806–144795

if its *managing operator is not a party to a *hybrid settlement sharing arrangement relating to the same accidents or incidents.

80‑50  Effect of becoming parties to industry deeds or entering into nominal defendant settlement sharing arrangements

 (1) An *operator of a *compulsory third party scheme does not make a *taxable supply by:
 (a) entering into, or becoming a party to, a *nominal defendant settlement sharing arrangement to which this Subdivision applies; or
 (b) becoming a party to a deed created by or under a *State law or a *Territory law establishing a compulsory third party scheme, that provides for a nominal defendant settlement sharing arrangement to which this Subdivision applies.

 (2) This section has effect despite section 9‑5 (which is about what are taxable supplies).

80‑55  Effect of contributing operator's payment

 (1) A *contributing operator's payment is not treated as *consideration for a supply by the *managing operator, or for an acquisition by the *contributing operator.

 (2) This section has effect despite section 9‑15 (which is about consideration) and section 11‑5 (which is about what is a creditable acquisition).

80‑60  Managing operator's payment or supply

  For the purposes of Division 79, a *managing operator's payment or supply is treated as a *CTP compensation payment or supply.

80‑65  Contributing operator's payment

  For the purposes of Division 79, a *contributing operator's payment is treated as a *CTP compensation payment or supply.

80‑70  Managing operator's increasing adjustment where contributing operator's payment

 (1) If:
 (a) a *contributing operator's payment is made; and
 (b) as a result of section 80‑60, there was a *decreasing adjustment for the *managing operator under Division 79 in relation to the *managing operator's payment or supply;
there is an increasing adjustment for the managing operator of the following amount:

Managing operator's settlement amount

 (2) The managing operator's settlement amount mentioned in subsection (1) is worked out using this method statement.

      Method statement
           Step 1. Add together:

                (a) the sum of the payments of *money (if any) that are included in the *managing operator's payment or supply; and
                (b) the *GST inclusive market value of the supplies (if any) that are included in the *managing operator's payment or supply (other than supplies that would have been *taxable supplies but for section 78‑25 or 79‑60).

           Step 2. If, in relation to the *managing operator's payment or supply, any payments of an excess were made to the *managing operator, subtract from the step 1 amount the sum of all those payments (except to the extent that they are payments of excess to which section 78‑18 or 79‑55 applies).

80‑75  Adjustment events relating to managing operator's payment or supply

  Division 19 applies in relation to an *increasing adjustment that the *managing operator has