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Chapter 5: Foreign life assurance policies (FLPs)

Last updated 26 May 2005

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