Taxation Laws Amendment Act (No. 1) 1995 (120 of 1995)
Schedule 1 VARIOUS AMENDMENTS OF THE INCOME TAX ASSESSMENT ACT 1936
Part 7 ELIGIBLE INVESTMENT INCOME OF REGISTERED ORGANISATIONS
55 Subsection 116E(1)
Insert:
" 'eligible investment asset', in relation to a registered organisation, means:
(a) a premium or other amount derived in carrying on eligible insurance business of the organisation; or
(b) income or profit derived from assets that are eligible investment assets of the organisation (including because of this paragraph); or
(c) any other asset purchased out of assets that are eligible investment assets of the organisation (including because of this paragraph);".
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