Document ID: chunk:federal_register_of_legislation:C2010C00648:clause:1_80
Version: federal_register_of_legislation:C2010C00648
Segment Type: clause
Provision Reference: sch 1 cl 80
Character Range: 66258–66732

80  After section 320‑85
Insert:

Subdivision 320‑D—Taxable income and tax loss of life insurance companies

320‑100  Savings—tax losses of previous income years

  If:
 (a) a life insurance company has a tax loss for an income year ending before 1 July 2000; and
 (b) all or a part of that tax loss is carried forward to the income year that includes that date;
so much of that tax loss as is so carried forward has effect as if it were a tax loss of the ordinary class.