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  • Chapter 5: Foreign life assurance policies (FLPs)



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    This chapter explains the application of the foreign investment fund (FIF) measures to taxpayers that have an interest in an FLP. It explains:

    • what an FLP is
    • when a taxpayer is considered to have an interest in an FLP
    • the period where the interest in the FLP is taxable
    • what an FLP's notional accounting period is, and
    • the two methods of taxation that are used to determine FIF income in relation to an interest in an FLP.
    Last modified: 01 Apr 2020QC 18001