Taxation Determination

TD 95/42A - Addendum

Income tax: can a premium paid by an employer on a trauma insurance policy in respect of an employee be an allowable deduction to the employer?

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FOI status:

may be released

ADDENDUM

This Addendum amends Taxation Determination TD 95/42, in relation to the 1997-98 or a later income year, as follows:

1. At Paragraph 1

Omit 'subsection 51(1) of the Income Tax Assessment Act 1936 (the Act )'; substitute 'section 8-1 of the Income Tax Assessment Act 1997 ('the 1997 Act') (formerly subsection 51(1) of the Income Tax Assessment Act 1936 (the 1936 Act))'.

2. At Paragraph 2

Omit 'subsection 25(1) of the Act'; substitute 'section 6-5 of the 1997 Act'.

3. At the Legislative references

Omit 'ITAA 25(1)'; substitute 'ITAA 1997 6-5'.

Omit 'ITAA 51(1)'; substitute 'ITAA 1997 8-1'.

Commissioner of Taxation
18 August 1999

References

ATO references:
NO NAT 99/10494-5

Related Rulings/Determinations:

TD 95/42