Taxation Laws Amendment Act (No. 1) 1995 (120 of 1995)

Schedule 1   VARIOUS AMENDMENTS OF THE INCOME TAX ASSESSMENT ACT 1936

Part 4   DIVIDEND REBATES AND LIFE ASSURANCE COMPANIES

26   After subsection 46(1)

Insert:

"(1A) A reference in this section to the taxable income of a shareholder that is a life assurance company is a reference to the non-fund component of the life assurance company's taxable income.".