Section DR 2 — Income Tax Act 2007: Shareholder base allowable deduction of life insurer

DR 2 Shareholder base allowable deduction of life insurer Deduction (1) If, but for this section, a life insurer has an amount of shareholder base allowable deduction for an income year and that amount is neither a deduction under this Part nor denied as a deduction under this Part, the amount is a deduction of the life insurer for the income year. No cross-deducting (2) A shareholder base allowable deduction is not allowed against policyholder base income. Link with subpart DA (3) Subsections (1) and (2) override the general permission. Defined in this Act: amount , deduction , general permission , income year , life insurer , policyholder base income , shareholder base allowable deduction Section DR 2: substituted, on 1 July 2010, by section 94(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).