Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-35
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INSURANCE BUSINESS
Division 320
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Life insurance companies
Subdivision 320-C
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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.
View history note
Hide history noteA *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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