Show download pdf controls
  • Chapter 5: Foreign life assurance policies (FLPs)

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    This chapter explains the application of the FIF measures to taxpayers who have an interest in a FLP. It explains:

    • what a FLP is
    • when a taxpayer is considered to have an interest in a FLP
    • the period where the interest in the FLP is taxable
    • what a 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 a FLP.
    Last modified: 01 Jul 2006QC 18507