Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-35
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INSURANCE BUSINESS
Division 320
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Life insurance companies
Subdivision 320-C
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Deductions and capital losses
Operative provisions
SECTION 320-110 Deduction for interest credited to income bonds 320-110(1)
A *life insurance company that is a *friendly society can deduct interest credited in the income year to the holders of *income bonds issued after 31 December 2002 where the interest accrued on or after 1 January 2003.
320-110(2)
This section has effect despite subsection 320-80(3) .
View history note
Hide history noteSECTION 320-110 Deduction for interest credited to income bonds 320-110(1)
A *life insurance company that is a *friendly society can deduct interest credited in the income year to the holders of *income bonds issued after 31 December 2002 where the interest accrued on or after 1 January 2003.
320-110(2)
This section has effect despite subsection 320-80(3) .
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