Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

INCOME TAX ASSESSMENT ACT 1997 - SECT 321.15

Deduction for increase in outstanding claims liability

    A * general insurance company can deduct for the * current year an amount equal to the amount (if any) by which:

  (a)   the value, at the end of the current year, of the company's liability for * outstanding claims under * general insurance policies; exceeds

  (b)   the value, at the end of the previous income year, of that liability.

Note:   Those values are worked out under section   321 - 20.


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback