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 320-87   Deduction for assets transferred from or to complying superannuation asset pool  

320-87(1)  


A *life insurance company can deduct the *transfer values of assets that are transferred by the company in the income year from a *complying superannuation asset pool under subsection 320-180(1) or 320-195(3) .

320-87(2)  


A *life insurance company can deduct the *transfer values of assets that are transferred by the company in the income year to a *complying superannuation asset pool under subsection 320-180(3) or 320-185(1) .

320-87(3)  
If an asset (other than money) is transferred by a *life insurance company:


(a) from a *complying superannuation asset pool under subsection 320-180(1) or 320-195(2) or (3); or


(b) to a complying superannuation asset pool under subsection 320-180(3) or section 320-185 ;

the company can deduct the amount (if any) that it can deduct because of section 320-200 .


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