New Business Tax System (Consolidation and Other Measures) Act 2003 (16 of 2003)

Schedule 6   Consolidation: life insurance companies

Part 2   Consequential amendments

Income Tax Assessment Act 1997

3   At the end of subsection 320-230(1)

Add:

Note: The time when a life insurance company joins or leaves a consolidated group is also a valuation time: see section 713-525.