Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 320.87

  (1)   A * life insurance company can deduct the * transfer values of assets that are transferred by the company in the income year from a * complying superannuation asset pool under subsection   320 - 180(1) or 320 - 195(3).

  (2)   A * life insurance company can deduct the * transfer values of assets that are transferred by the company in the income year to a * complying superannuation asset pool under subsection   320 - 180(3) or 320 - 185(1).

  (3)   If an asset (other than money) is transferred by a * life insurance company:

  (a)   from a * complying superannuation asset pool under subsection   320 - 180(1) or 320 - 195(2) or (3); or

  (b)   to a complying superannuation asset pool under subsection   320 - 180(3) or section   320 - 185;

the company can deduct the amount (if any) that it can deduct because of section   320 - 200.