Income Tax (Transitional Provisions) Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-35 - INSURANCE BUSINESS  

Division 320 - Life insurance companies  

Subdivision 320-D - Taxable income and tax loss of life insurance companies  

SECTION 320-100  

320-100   Savings - tax losses of previous income years  

If:

(a) a life insurance company has a tax loss for an income year ending before 1 July 2000; and

(b) all or a part of that tax loss is carried forward to the income year that includes that date;

so much of that tax loss as is so carried forward has effect as if it were a tax loss of the ordinary class.