Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-35 - INSURANCE BUSINESS  

Division 320 - Life insurance companies  

Subdivision 320-B - What is included in a life insurance company ' s assessable income  

Operative provisions

SECTION 320-45   Tax treatment of gains or losses from CGT events in relation to complying superannuation assets  

320-45(1)  


If a *CGT event happens in respect of a *CGT asset that is a *complying superannuation asset of a *life insurance company, section 295-85 and 295-90 applies for the purpose of working out the amount of any *capital gain or *capital loss that arises from the event.
Note:

See Subdivision 295-B of the Income Tax (Transitional Provisions) Act 1997 for rules about cost base for assets owned by superannuation entities at the end of 30 June 1988.

320-45(2)  


Subsection (1) has effect despite anything in Division 230 .

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