Tax Laws Amendment (2004 Measures No. 2) Act 2004 (83 of 2004)

Schedule 1   Life insurance companies

Part 1   Amendments commencing on 30 June 2000

Income Tax (Transitional Provisions) Act 1997

80   After section 320-85


Subdivision 320-D - Taxable income and tax loss of life insurance companies

320-100 Savings - tax losses of previous income years


(a) a life insurance company has a tax loss for an income year ending before 1 July 2000; and

(b) all or a part of that tax loss is carried forward to the income year that includes that date;

so much of that tax loss as is so carried forward has effect as if it were a tax loss of the ordinary class.