Statute
Section 121 — Income Tax Assessment Act 1936: Mutual insurance associations
Text of the provision Official document
(1) An association of persons formed for the purpose of insuring those persons against loss, damage or risk of any kind is taken, for the purposes of this Act, to be a company carrying on the business of insurance. (2) The assessable income of such a company includes all premiums derived by it, whether from its members or not.
Official source: Federal Register of Legislation
There are no decisions in our collection citing this provision yet. As new judgments are published, they will appear here.
Search case law on this topic
See judgments from Australian courts and tribunals with a plain-English summary and legal holding.
Explore case law →