Taxation Determination TD 92/146







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. Accident and disability premiums of a life assurance company are assessable income of the years in which they are derived. | 2. Subsection 110(1) defines AD premiums as 'premiums received in respect of AD policies'. This definition was not intended to change the assessability of AD premiums to a receipts basis | Commissioner of Taxation 20/08/92


Legislative references: ITAA 110(1)
Subject references: Life assurance companies, definition: AD premiums