Document ID: chunk:federal_register_of_legislation:C2010C00648:clause:1_118
Version: federal_register_of_legislation:C2010C00648
Segment Type: clause
Provision Reference: sch 1 cl 118
Character Range: 80885–81559

118  After subsection 320‑37(1)
Insert:

 (1A) For the purposes of paragraph (1)(c), foreign establishment amounts for the *life insurance company means the total amount of assessable income that was derived in the income year:
 (a) in the course of the carrying on by the company of a business in a foreign country at or through a *permanent establishment of the company in that country; and
 (b) from sources in that or any other foreign country; and
 (c) from assets that:
 (i) are attributable to the permanent establishment; and
 (ii) are held to meet the liabilities under the *life insurance policies issued by the company at or through the permanent establishment.