Superannuation Legislation Amendment (Simplification) Act 2007 (15 of 2007)

Schedule 1   Consequential amendments etc.

Part 2   Other consequential amendments etc.

Income Tax Assessment Act 1997

256   Subsection 995-1(1) (definition of risk component )

Repeal the definition, substitute:

risk component :

(a) the risk component of a premium for a *life insurance policy has the meaning given by subsection 26-85(2); and

(b) the risk component of a claim paid under a life insurance policy has the meaning given by section 320-80.