Commonwealth Consolidated Acts Commonwealth Consolidated ActsThis Subdivision sets out special rules for:
(a) a life insurance company that becomes, or ceases to be, a member of a consolidated group; and
(b) the head company of a consolidated group where a life insurance company is a subsidiary member of the group.
Table of sections
General modifications for life insurance companies
713 - 505 Head company treated as a life insurance company
713 - 510 Certain subsidiaries of life insurance companies cannot be members of consolidated group
713 - 510A Disregard single entity rule in working out certain amounts in respect of life insurance company
Life insurance companies' liabilities on joining consolidated group
713 - 511 Treatment of certain liabilities for income year when life insurance company joins consolidated group
Tax cost setting rules for life insurance companies joining consolidated group
713 - 515 Certain assets taken to be retained cost base assets where life insurance company joins group
713 - 520 Valuing certain liabilities where life insurance company joins group
713 - 525 Obligation to value certain assets and liabilities at joining time
Losses of life insurance companies joining consolidated group
713 - 530 Treatment of certain losses of life insurance company
Losses of life insurance companies' subsidiaries joining consolidated group
713 - 535 Losses of entities whose membership interests are complying superannuation assets of life insurance company
713 - 540 Losses of entities whose membership interests are segregated exempt assets of life insurance company
Imputation rules for life insurance companies joining consolidated group
713 - 545 Treatment of franking surplus in franking account of life insurance subsidiary joining group
713 - 550 Treatment of head company's franking account after joining
Liabilities for life insurance companies leaving consolidated group
713 - 565 Treatment of certain liabilities for income year when life insurance company leaves consolidated group
Losses for life insurance companies leaving consolidated group
713 - 570 Certain losses transferred to leaving company
Tax cost setting rules for life insurance companies leaving consolidated group
713 - 575 Terminating value of certain assets where life insurance company leaves group
713 - 580 Valuing certain liabilities where life insurance company leaves group
713 - 585 Obligation to value certain assets and liabilities at leaving time