(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