Taxation Determination

TD 92/165

Income tax: insurance: can a life assurance company claim a deduction under section 279 for the cost of providing death and disability cover for members of a complying superannuation fund?

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FOI status:

may be releasedFOI number: I 1213378

This Determination, to the extent that it is capable of being a 'public ruling' in terms of Part IVAAA of the Taxation Administration Act 1953, is a public ruling for the purposes of that Part. Taxation Ruling TR 92/1 explains when a Determination is a public ruling and how it is binding on the Commissioner. Unless otherwise stated, this Determination applies to years commencing both before and after its date of issue.

1. No. Section 279 of the Income Tax Assessment Act 1936 only allows a complying superannuation fund to claim a deduction for the cost of providing death and disability cover for members of a complying superannuation fund. A life assurance company cannot be a complying superannuation fund and is therefore unable to claim a deduction under section 279.

Commissioner of Taxation
01/10/92

References

ATO references:
NO Insurance Industry Cell

ISSN 1038 - 3158

Subject References:
life assurance companies;
complying superannuation funds;
death and disability cover

Legislative References:
ITAA 279

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