78‑30 Acquisitions by insurers in the co78‑30 Acquisitions by insurers in the course of settling claims under non‑taxable policies

78‑30 Acquisitions by insurers in the course of settling claims under non‑taxable policies

(1) An acquisition is not a *creditable acquisition if: (a) the insurer makes the acquisition: (i) to the extent that the acquisition is an acquisition of goods—solely for the purpose of supplying the goods in the course of settling a claim under an *insurance policy; or (ii) otherwise—solely for a purpose directly related to settling a particular claim under an *insurance policy; and (b) the supply of the insurance policy by the insurer was *GST‑free. (2) This section has effect despite section 11‑5 (which is about what is a creditable acquisition).