Taxation Laws Amendment Act (No. 1) 1999 (16 of 1999)

Schedule 9   Average calculated liabilities of life assurance companies

Income Tax Assessment Act 1936

1   Subsection 110(1)

Insert:

significant event , in relation to any of the insurance funds maintained by a life assurance company, means any happening or circumstance that causes an abnormal change in the amount of the company's liabilities in respect of policies included in the fund concerned.