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  GST 2012

Compensation for loss: GST and insurance issues from the insured's perspective

Source: National

Published Date: 6 Sep 2012

 

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Most businesses will be exposed in some way to issues concerning compensation for loss, whether through insurance or damages or warranty claims. Natural disasters in recent times have brought insurance issues into particular focus.

This paper covers:

  • insurance premiums
    • general observations
    • scenario 1 – standard business asset insurance
    • scenario 2 – transit insurance for staff relocations
  • insurance claims
    • general rules
    • disclosure of input tax credit entitlement to the insurer
    • excess payments
    • insurance settlements – general observations
      • cash settlements
      • property settlements
      • supplies of goods
      • ex-gratia insurance settlements.
Author(s)

Individual Session

Compensation for loss: GST issues from the insured's perspective

Author(s): Michael Flanderka
Materials from this session:

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Details

  • Published By: Michael Flanderka
  • Published On:6 Sep 2012
  • Took place at:Hilton Sydney

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