Taxation Laws Amendment (Structured Settlements and Structured Orders) Act 2002 (139 of 2002)

Schedule 1  

Part 1   Main amendments

Income Tax Assessment Act 1997

1B   Subsection 995-1(1)

Insert:

policy termination value , in relation to a *life insurance policy at a particular time, means the amount that is, within the meaning of the *Solvency Standard, the termination value of that policy at that time.


Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).