Income tax: life assurance companies - apportionment of current year deductions between classes of assessable income
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Notice of Withdrawal
Taxation Determination TD 97/18 is withdrawn with effect from today.
1. TD 97/18 deals with the allocation under section 116CF of the Income Tax Assessment Act 1936 (ITAA 1936) of expenses allowable as deductions under either section 111AC or section 111AD of the ITAA 1936, incurred by life assurance companies in obtaining superannuation premiums and the investment component of other life assurance policy premiums.
2. TD 97/18 deals with the former life insurance company provisions in Division 8 of Part III of the ITAA 1936. There are new provisions relating to life insurance contained in Division 320 of the Income Tax Assessment Act 1997 .
3. TD 97/18 has no ongoing relevance and is therefore withdrawn without replacement.
Commissioner of Taxation
5 April 2017
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classes of assessable income
current year deductions
life assurance companies
ITAA Division 8 Part III;