Commonwealth Consolidated Acts

TAXATION (DEFICIT REDUCTION) ACT (No. 2) 1993 - SECT 9

Section 116E of the Principal Act is amended by inserting the following definitions in subsection (1):

investment component , in relation to a premium received in respect of a life assurance policy, means so much of the premium as does not consist of a risk component.

risk component , in relation to a premium received in respect of a life assurance policy, means the risk component (if any) of the premium worked out on the basis specified in the regulations.