Tax Laws Amendment (2009 Measures No. 6) Act 2010 (19 of 2010)

Schedule 3   Exempt annuity business of life insurance companies

Part 2   Amendments applying from the 2007-08 income year

Division 1   Amendment of the Income Tax Assessment Act 1997

7   Subsection 320-246(3) (cell at table item 2, column 2)

Omit "reduced purchase price (within the meaning of that section)", substitute "purchase price (within the meaning of that section), reduced by the sum of the deductible amounts excluded from assessable income under that section".