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
Subject References:
life assurance companies;
complying superannuation funds;
death and disability cover
Legislative References:
ITAA 279