Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-35 - INSURANCE BUSINESS  

Division 320 - Life insurance companies  

Subdivision 320-C - Deductions and capital losses  

Operative provisions

SECTION 320-65  

320-65   Deduction for life insurance premiums in respect of life insurance policies that provide for participating or discretionary benefits  

A * life insurance company can deduct the amounts of * net premiums received in respect of * life insurance policies (other than * complying superannuation life insurance policies or * exempt life insurance policies) that provide for * participating benefits or * discretionary benefits.