Income Tax Assessment Act 1997
View history note
Hide history noteProvisions of this Act about deducting amounts apply to *complying superannuation funds and *complying approved deposit funds as if *ordinary income and *statutory income received from these investments were included in their assessable income:
(a) units in a *pooled superannuation trust;
(b) *life insurance policies issued by a *life insurance company;
(c) an interest in a trust whose assets consist only of life insurance policies issued by a life insurance company.
Note:
Income from these investments is not assessable: see for example sections 295-105 and 118-350 .
295-100(2)
A *complying superannuation fund cannot deduct an amount (otherwise than under section 295-465 ) for fees or charges incurred for:
(a) *complying superannuation life insurance policies; or
(b) *exempt life insurance policies; or
(c) units in a *pooled superannuation trust that are *segregated current pension assets of the fund.
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