5 Transfers
Complete the below for transfers.
Transfers to complying superannuation asset pool
Write at label N the transfer value of assets (including money) transferred by the life insurance company to the complying superannuation asset pool under subsections 320-180(3) and 320-185(1) of the ITAA 1997.
Transfers from complying superannuation asset pool
Write at label O the following amounts:
- the transfer value of assets (including money) transferred by the life insurance company from the complying superannuation asset pool under subsection 320-180(1) of the ITAA 1997
- assets transferred (including money) under subsection 320-195(3) of the ITAA 1997 having a total transfer value equal to the following
- all fees from investment-linked policies
- policy fees and administration fees from other than investment-linked policies
- premium-based fees from other than investment-linked policies.
Don't include the value of assets (including money) relating to the ‘risk rider’ component of life insurance premiums transferred from the complying superannuation asset pool under subsections 320-180(1) or 320-195(3) of the ITAA 1997.
Transfers to segregated exempt assets
Write at label P the transfer value of assets (including money) transferred to the life insurance company’s SEA under subsections 320-235(3) and 320-240(1) of the ITAA 1997.
Transfers from segregated exempt assets
Write at label Q the following amounts:
- the transfer value of assets (including money) transferred from the life insurance company’s SEA under subsection 320-235(1) of the ITAA 1997
- assets (including money) transferred under subsection 320-250(2) of the ITAA 1997 having a total transfer value equal to the following
- all fees from investment-linked policies
- policy fees and administration fees from other than investment-linked policies
- premium-based fees from other than investment-linked policies.
6 Exploration credit tax offset
Write at label R the total exploration credit tax offsets allowance under section 418-15 of the ITAA 1997.
Taxpayer’s declaration
If you don't lodge this schedule with your tax return, you must sign and date the schedule.
Include in the declaration a signature, date, name and telephone number for the public officer.
Return to: Instructions life insurance companies taxation schedule 2024