Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Act 2024 (52 of 2024)

Schedule 6   Income tax amendments for updates to accounting standards for general insurance contracts

Part 2   Other amendments

Income Tax Assessment Act 1997

18   Paragraph 713-710(a)

Omit "the outstanding claims liability of a *general insurance company", substitute "a *general insurance company's adjusted *liability for incurred claims".