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 320-100   320-100   Deduction for life insurance premiums paid under certain contracts of reinsurance  


A *life insurance company can deduct amounts that:


(a) were paid by the company in the income year as *life insurance premiums under *contracts of reinsurance; and


(b) do not relate to a risk, or part of a risk, in relation to which subsection 148(1) of the Income Tax Assessment Act 1936 applies.


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