A * general insurance company can deduct for the * current year amounts paid during that year in respect of claims under * general insurance policies.
Table of sections
321 - 45 Assessable income to include gross premiums
321 - 50 Assessable income to include amount for reduction in adjusted liability for remaining coverage
321 - 55 Deduction for increase in adjusted liability for remaining coverage
321 - 60 How the value of adjusted liability for remaining coverage is worked out