Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 316-65 Valuation factor for sections 316-60, 316-105 and 316-165 316-65(1)
For the purposes of section 316-60 , 316-105 and 316-165 , the valuation factor is the amount worked out using the formula:
| Market value of the friendly society ' s health insurance business (if any) | + | Embedded value of the friendly society ' s other business (if any) |
| Total * capital proceeds for all entities from * CGT events happening under the demutualisation to interests affected by demutualisation (except those described in subparagraph 316-55(1)(b)(iv)) |
where:
embedded value of the friendly society
'
s other business (if any)
means the amount that would be the value of the *friendly society worked out under section
316-70
assuming that neither the friendly society, nor any health/life insurance subsidiary of it, carried on any health insurance business within the meaning of the
Private Health Insurance (Prudential Supervision) Act 2015
.
market value of the friendly society
'
s health insurance business (if any)
means the total *market value of every health insurance business, within the meaning of the
Private Health Insurance (Prudential Supervision) Act 2015
, carried on by either or both of the *friendly society and its health/life insurance subsidiaries (if any), taking account of any consideration paid to the society or subsidiary for disposal or control of that business.
316-65(2)
Disregard paragraph 316-60(2)(a) for the purposes of the formula in subsection (1) of this section.
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