Tax Laws Amendment (2004 Measures No. 2) Act 2004 (83 of 2004)
Schedule 1 Life insurance companies
Part 1 Amendments commencing on 30 June 2000
Income Tax Assessment Act 1997
16 At the end of section 320-15
Add:
(2) Paragraph (1)(h) does not cover any liabilities under:
(a) a *life insurance policy that provides for *participating benefits or *discretionary benefits; or
(b) an *exempt life insurance policy; or
(c) a *funeral policy.