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 Assessment Act 1997

23   Subsection 320-70(2)

Repeal the subsection, substitute:

(2) This section does not apply to:

(a) *life insurance policies that provide for *participating benefits or *discretionary benefits; or

(b) funeral policies.

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