First Home Saver Accounts (Consequential Amendments) Act 2008 (45 of 2008)

Schedule 7   Other amendments relating to changes of references to virtual PST etc.

Income Tax Assessment Act 1997

48   Subsection 995-1(1)

Insert:

excluded complying superannuation/FHSA life insurance policy means a *life insurance policy that:

(a) provides only for *superannuation death benefits, *disability superannuation benefits or temporary disability benefits of a kind referred to in paragraph 295-460(c), that are not *participating benefits; or

(b) is an *exempt life insurance policy.