Taxation Laws Amendment (Structured Settlements and Structured Orders) Act 2002 (139 of 2002)

Schedule 1  

Part 1   Main amendments

Income Tax Assessment Act 1997

1B   Subsection 995-1(1)

Insert:

policy termination value , in relation to a *life insurance policy at a particular time, means the amount that is, within the meaning of the *Solvency Standard, the termination value of that policy at that time.