Taxation Determination TD 92/144







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, the Determination applies to transactions entered into both before and after its date of issue. | 1. No. Providing the replacement policy merely reflects the change of name of the life assurance company liable under the policy and there is no change in the contractual terms, there is no receipt, reinvestment or dealing with amounts under the policy for subsection 26AH(4) purposes by or on behalf of the policy holder. | Commissioner of Taxation 20/08/92


Related rulings: TD 92/145 IT 2346
Legislative references: ITAA 26AH(4)
Case references: Permanent Trustee Co. of NSW Ltd. v FCT (1940) 2 AITR 109 6 ATD 5
Subject references: Life assurance companies replacement of life assurance policies on merger or takeover