Tax Laws Amendment (2009 Measures No. 6) Act 2010 (19 of 2010)

Schedule 3   Exempt annuity business of life insurance companies

Part 2   Amendments applying from the 2007-08 income year

Division 1   Amendment of the Income Tax Assessment Act 1997

8   Subsection 320-246(3) (cell at table item 3, column 2)

Omit "reduced purchase price (within the meaning of that section)", substitute "purchase price (within the meaning of that section), reduced by the sum of the deductible amounts excluded from assessable income under that section".


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).