Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT (SUPERANNUATION) ACT 1989No. 105, 1989 - SECT 9

9. Section 46 of the Principal Act is amended by adding at the end the
following subsections:

"(10) A shareholder in a company is not entitled to a rebate under this
section in its assessment in respect of a dividend paid to it by the company
if:

   (a)  the shareholder is a life assurance company; and

   (b)  the assets of the shareholder from which the dividend was derived were
        included in insurance funds of the shareholder at any time during the
        period commencing at the beginning of the year of income of the
        shareholder in which the dividend was paid and ending at the time the
        dividend was paid.

"(11) In subsection (10), 'insurance funds' and 'life assurance company' have
the same respective meanings as in Division 8.".