Income tax: is a deduction allowable to complying superannuation funds, under section 279 of the Income Tax Assessment Act 1936, for insurance premiums attributable to the provision of benefits for members in the event of temporary disability longer than two years?
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Notice of Withdrawal
Taxation Determination TD 2007/3 is withdrawn with effect from today.
1. TD 2007/3 explains that section 279 of the Income Tax Assessment Act 1936 (ITAA 1936) permits complying superannuation funds a deduction for insurance premiums where income payments may be made to members of that fund with a temporary disability lasting longer than two years. This provided that the benefits payable under the terms of the insurance policy also comply with the requirements of the Superannuation Industry (Supervision) Act 1993.
2. Section 279 of the ITAA 1936 has been repealed with effect from 1 July 2007.
3. TD 2007/3 has no ongoing relevance and is therefore withdrawn without replacement.
Commissioner of Taxation
20 December 2016
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accident and disability insurance
Commissioner's discretion to treat late taxation objections as having been lodged within time
Complying Superannuation Funds
death or disability benefit
deduction for premiums for death or disability cover
ITAA 1936 267
ITAA 1936 267(1)
ITAA 1936 279
ITAA 1997 1-3(2)
ITAA 1997 295-460
SIS Act 62
SIS Act 62(1)(b)
SIS Act 62(1)(b)(v)
SIS Regulations Pt 6
SIS Regulations Sch 1
TAA 1953 14ZW
TAA 1953 14ZW(2)
TAA 1953 Schedule 1, 357-85
Tax Laws Amendment (Simplified Superannuation) Act 2007
MLC Ltd & Anor v. DFC of T
(2002) 196 ALR 502
(2002) 2002 ATC 5105
(2002) 51 ATR 283
 FCA 1491
(2002) 126 FCR 37
Law Administration Practice Statement PS LA 2003/7
|28 March 2007||Original ruling|
|You are here||20 December 2016||Withdrawn|