Commonwealth Consolidated Acts

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

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 320.100

Savings--tax losses of previous income years

                   If:

                     (a)  a life insurance company has a tax loss for an income year ending before 1 July 2000; and

                     (b)  all or a part of that tax loss is carried forward to the income year that includes that date;

so much of that tax loss as is so carried forward has effect as if it were a tax loss of the ordinary class.

Table of sections

320-170    Transfer of part of an asset to a virtual PST

320-175    Transfers of assets to virtual PST

320-180    Deferred annuities purchased before 1 July 2007



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback