Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Act 2024 (52 of 2024)

Schedule 6   Income tax amendments for updates to accounting standards for general insurance contracts

Part 1   Main amendments

Income Tax Assessment Act 1997

11   Paragraph 321-55(a)

Omit "unearned premium reserve", substitute "adjusted *liability for remaining coverage under *general insurance policies".