Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

INCOME TAX ASSESSMENT ACT 1997 - SECT 320.87

Deduction for assets transferred from or to complying superannuation asset pool

             (1)  A * life insurance company can deduct the * transfer values of assets that are transferred by the company in the income year from a * complying superannuation asset pool under subsection 320-180(1) or 320-195(3).

             (2)  A * life insurance company can deduct the * transfer values of assets that are transferred by the company in the income year to a * complying superannuation asset pool under subsection 320-180(3) or 320-185(1).

             (3)  If an asset (other than money) is transferred by a * life insurance company:

                     (a)  from a * complying superannuation asset pool under subsection 320-180(1) or 320-195(2) or (3); or

                     (b)  to a complying superannuation asset pool under subsection 320-180(3) or section 320-185;

the company can deduct the amount (if any) that it can deduct because of section 320-200.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback