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Chapter 5: Foreign life assurance policies (FLPs)

Last updated 14 May 2020

This chapter explains the application of the FIF measures to taxpayers who have an interest in a FLP. It explains:

  • what a FLP is
  • when a taxpayer is considered to have an interest in a FLP
  • the period where the interest in the FLP is taxable
  • what a FLP's notional accounting period is, and
  • the two methods of taxation that are used to determine FIF income in relation to an interest in a FLP.

QC27895