(1) Provisions of this Act about deducting amounts apply to * complying superannuation funds and * complying approved deposit funds as if * ordinary income and * statutory income received from these investments were included in their assessable income:
(a) units in a * pooled superannuation trust;
(b) * life insurance policies issued by a * life insurance company;
(c) an interest in a trust whose assets consist only of life insurance policies issued by a life insurance company.
Note: Income from these investments is not assessable: see for example sections 295- 105 and 118-350.
(2) A * complying superannuation fund cannot deduct an amount (otherwise than under section 295-465) for fees or charges incurred for:
(a) * complying superannuation life insurance policies; or
(b) * exempt life insurance policies; or
(c) units in a * pooled superannuation trust that are * segregated current pension assets of the fund.