Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-35 - INSURANCE BUSINESS  

Division 320 - Life insurance companies  

Subdivision 320-C - Deductions and capital losses  

Operative provisions

SECTION 320-105   Deduction for assets transferred to segregated exempt assets  

320-105(1)    
A *life insurance company can deduct the *transfer values of assets transferred in the income year to the company's *segregated exempt assets under subsection 320-235(3) or 320-240(1) .

320-105(2)    
If an asset (other than money) is transferred to a *life insurance company's *segregated exempt assets under subsection 320-235(3) or section 320-240 , the company can deduct the amount (if any) that it can deduct because of section 320-255 .