Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-35 - INSURANCE BUSINESS  

Division 320 - Life insurance companies  

Subdivision 320-I - Transfers of business  

Operative provisions

SECTION 320-335  

320-335   Parts of assets treated as separate assets  

If:

(a) an asset is transferred to the recipient company from the originating company; and

(b) parts of that asset were, under section 320-170 or 320-225 of the Income Tax (Transitional Provisions) Act 1997 , treated as separate assets of the originating company just before the transfer took place;

those parts of that asset are also treated as separate assets of the recipient company.