Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p61
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 61/79)
Character Range: 4993187–4995942

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.

320‑100  Deduction for life insurance premiums paid under certain contracts of reinsurance
  A *life insurance company can deduct amounts that:
 (a) were paid by the company in the income year as *life insurance premiums under *contracts of reinsurance; and
 (b) do not relate to a risk, or part of a risk, in relation to which subsection 148(1) of the Income Tax Assessment Act 1936 applies.

320‑105  Deduction for assets transferred to segregated exempt assets
 (1) A *life insurance company can deduct the *transfer values of assets transferred in the income year to the company's *segregated exempt assets under subsection 320‑235(3) or 320‑240(1).
 (2) If an asset (other than money) is transferred to a *life insurance company's *segregated exempt assets under subsection 320‑235(3) or section 320‑240, the company can deduct the amount (if any) that it can deduct because of section 320‑255.

320‑110  Deduction for interest credited to income bonds
 (1) A *life insurance company that is a *friendly society can deduct interest credited in the income year to the holders of *income bonds issued after 31 December 2002 where the interest accrued on or after 1 January 2003.
 (2) This section has effect despite subsection 320‑80(3).

320‑111  Deduction for funeral policy payout
 (1) A *life insurance company that is a *friendly society can deduct the amount of a benefit provided in the income year by the company under a *funeral policy issued after 31 December 2002, reduced by so much of the sum of the amounts deducted or deductible by the company under section 320‑75 for any income year as is reasonably related to the benefit.
 (2) This section has effect despite subsection 320‑80(3).

320‑112  Deduction for scholarship plan payout
 (1) A *life insurance company that is a *friendly society can deduct the amount of a benefit it provides in the income year and on or after 1 January 2003:
 (a) under a *scholarship plan covered by subsection (2) or (3); and
 (b) to, or on behalf of, a person nominated in the plan as a beneficiary whose education is to be helped by the benefit;
reduced by so much of the sum of the amounts deducted or deductible by the company under section 320‑75 for any income year as is reasonably related to the benefit.
 (2) This subsection covers a *scholarship plan issued