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

Schedule 1   VARIOUS AMENDMENTS OF THE INCOME TAX ASSESSMENT ACT 1936

Part 1   BONUS SHARES AND LIFE ASSURANCE COMPANIES

2   After subsection 6BA(4)

Insert:

"(4A) If:

(a) the taxpayer is a life assurance company; and

(b) the whole or part of the relevant amount is included in the fund assessable income of the life assurance company of a year of income;

subsection (2) does not apply in relation to the whole or the part of the relevant amount.".