Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 713 - Rules for particular kinds of entities  

Subdivision 713-L - Life insurance companies  

Guide to Subdivision 713-L

SECTION 713-500   What this Subdivision is about  


This Subdivision sets out special rules for:

  • (a) a life insurance company that becomes, or ceases to be, a member of a consolidated group; and
  • (b) the head company of a consolidated group where a life insurance company is a subsidiary member of the group.

  • TABLE OF SECTIONS
    TABLE OF SECTIONS
    General modifications for life insurance companies
    713-505 Head company treated as a life insurance company
    713-510 Certain subsidiaries of life insurance companies cannot be members of consolidated group
    713-510A Disregard single entity rule in working out certain amounts in respect of life insurance company
    Life insurance companies ' liabilities on joining consolidated group
    713-511 Treatment of certain liabilities for income year when life insurance company joins consolidated group
    Tax cost setting rules for life insurance companies joining consolidated group
    713-515 Certain assets taken to be retained cost base assets where life insurance company joins group
    713-520 Valuing certain liabilities where life insurance company joins group
    713-525 Obligation to value certain assets and liabilities at joining time
    Losses of life insurance companies joining consolidated group
    713-530 Treatment of certain losses of life insurance company
    Losses of life insurance companies ' subsidiaries joining consolidated group
    713-535 Losses of entities whose membership interests are complying superannuation assets of life insurance company
    713-540 Losses of entities whose membership interests are segregated exempt assets of life insurance company
    Imputation rules for life insurance companies joining consolidated group
    713-545 Treatment of franking surplus in franking account of life insurance subsidiary joining group
    713-550 Treatment of head company ' s franking account after joining
    [ Annuity payable by life insurance company to another member of a consolidated group]
    713-553 (Repealed by No 56 of 2010)
    713-555 (Repealed by No 56 of 2010)
    713-560 (Repealed by No 56 of 2010)
    Liabilities for life insurance companies leaving consolidated group
    713-565 Treatment of certain liabilities for income year when life insurance company leaves consolidated group
    Losses for life insurance companies leaving consolidated group
    713-570 Certain losses transferred to leaving company
    Tax cost setting rules for life insurance companies leaving consolidated group
    713-575 Terminating value of certain assets where life insurance company leaves group
    713-580 Valuing certain liabilities where life insurance company leaves group
    713-585 Obligation to value certain assets and liabilities at leaving time


    View surrounding sectionsView surrounding sectionsBack to top


    This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.