Taxation Laws Amendment Act (No. 1) 1999 (16 of 1999)
Schedule 9 Average calculated liabilities of life assurance companies
Income Tax Assessment Act 1936
3 Subsection 112A(3)
Repeal the subsection, substitute:
(3) Subsection (2) does not apply in relation to a fund if less than one-third of the average calculated liabilities of the company for the year of income for policies of all categories (other than eligible non-resident policies) included in the fund relates to Australian policies.
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