79‑25 Meaning of CTP hybrid payment or s79‑25 Meaning of CTP hybrid payment or supply

79‑25 Meaning of CTP hybrid payment or supply

(1) Subject to this section, a payment or supply is a CTP hybrid payment or supply if: (a) it is made in settlement of a claim for compensation under a *compulsory third party scheme; and (b) the claim would not have been made but for an *insurance policy issued under the scheme; and (c) the claim was not made under the insurance policy. (2) A payment or supply is not a CTP hybrid payment or supply if: (a) when the payment or supply is made, the entity that paid the premium for the *insurance policy cannot be located; and (b) that entity did not, at or before the time the *operator making the payment or supply was first made aware of the circumstances to which the payment or supply relates, inform the operator of the entitlement to an input tax credit for the CTP premium it paid; and (c) the *premium selection test was not satisfied in relation to the insurance policy. (2A) Subsection (2) does not apply if the cover under the *insurance policy commenced before 1 July 2003 (whether or not all or part of the premium on the policy was paid before that day). (3) A payment or supply is not a CTP hybrid payment or supply if the *operator making the payment or supply was required to do so by law because of the bankruptcy or insolvency of another operator who is an insurer.