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

Schedule 9   Average calculated liabilities of life assurance companies

Income Tax Assessment Act 1936

5   Subsection 114(1)

Omit all the words before paragraph (a), substitute:

If an actuarial valuation of liabilities of a life assurance company is made as at a particular time, the company's calculated liabilities at that time are: