23Input tax credits relating to compulsory third party schemes

#### 23 Input tax credits relating to compulsory third party schemes (1) You are not entitled to an input tax credit for: (a) a premium, contribution or similar payment made under, or a levy paid in connection with, a compulsory third party scheme, if the premium, contribution or similar payment relates to a period commencing before 1 July 2003; or (b) a premium paid, in respect of a period of cover commencing before 1 July 2003, on an insurance policy issued under a compulsory third party scheme. (1AA) It does not matter, for the purposes of subsection (1), whether the payment occurred before, on or after 1 July 2003. (1A) If, because of subsection (1), you are not entitled to an input tax credit for an acquisition you make, section 29‑70 of the GST Act (which is about tax invoices) does not apply in relation to the supply to which the acquisition relates. (2) A compulsory third party scheme is: (a) a statutory compensation scheme; or (b) a scheme or arrangement, established by an Australian law, under which insurance policies are issued; that is specified in the regulations, or that is of a kind specified in the regulations.