Document ID: chunk:federal_register_of_legislation:C2010C00583:clause:11_18:p9
Version: federal_register_of_legislation:C2010C00583
Segment Type: clause
Provision Reference: sch 11 cl 18 (pt 9/18)
Character Range: 123741–126372

of any of those payments of excess were reductions in the consideration for the supply.

79‑80  Payments of excess under compulsory third party schemes are not consideration for supplies

 (1) The making of any payment by an entity is not treated as *consideration for a supply, to the entity or any other entity, to the extent that the payment is the payment of an excess to an *operator of a *compulsory third party scheme.

 (2) This section has effect despite section 9‑15 (which is about consideration).

79‑85  Supplies of goods to operators in the course of settling claims

 (1) A supply of goods is not a *taxable supply if it is solely a supply made under a *compulsory third party scheme to an *operator of the scheme in the course of settling a claim for compensation made under the scheme.

 (2) In working out the value of a *taxable supply that is partly a supply of goods made under a *compulsory third party scheme to an *operator of the scheme in the course of settling a claim for compensation made under the scheme, disregard the *consideration to the extent that it relates to the supply of those goods.

 (3) This section has effect despite section 9‑5 (which is about what are taxable supplies) and section 9‑75 (which is about the value of taxable supplies).

79‑90  Effect of judgments and court orders

  If:
 (a) in compliance with a judgment or order of a court relating to:
 (i) a claim for compensation under a *compulsory third party scheme; or
 (ii) a claim by an *operator of a compulsory third party scheme, exercising rights to recover from another entity in respect of a settlement made under the scheme;
  an entity makes a payment of *money, makes a supply, or makes both a payment of money and a supply; and
 (b) had the payment or supply been made in the absence of such a judgment or order, it would have been a *CTP compensation payment or supply or a CTP ancillary payment or supply;
the payment or supply is treated as having been a CTP compensation payment or supply or a CTP ancillary payment or supply.

Subdivision 79‑D—Compulsory third party scheme decreasing adjustments worked out using applicable average input tax credit fraction

79‑95  How to work out decreasing adjustments using the applicable average input tax credit fraction

 (1) If an *operator of a *compulsory third party scheme has a *decreasing adjustment in relation to a payment or supply that is to be worked out using the applicable *average input tax credit fraction, the amount of the *decreasing adjustment is as follows.

 (2) The amount is worked out using the formula:
where:

applicable average input