Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:3_160aphb
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 3 cl 160APHB
Character Range: 238643–239494

160APHB  Life assurance companies—application of rebates against components of taxable income

 (1) This section applies in working out any of the following for the purposes of this Part:
 (a) how much of the company tax assessed to a life assurance company in respect of a year of income is attributable to shareholders' funds income for a year of income;
 (b) how much of an amount of a reduction or increase in the company tax of a life assurance company in respect of a year of income is attributable to shareholders' funds income for the year of income.

 (2) Rebates of tax (other than rebates under section 46 or 46A) are taken to be applied against components of taxable income in the following order:
 (a) taxable income referable to income other than shareholders' funds income;
 (b) taxable income referable to shareholders' funds income.