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  • Chapter 5: Foreign life assurance policies



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

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    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: 04 Feb 2010QC 21777