Product Ruling
PR 2022/10A1 - Addendum
Swiss Life (Singapore) Pte. Ltd. Life Asset Portfolio Universal Asia
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Addendum
This Addendum is a public ruling for the purposes of the Taxation Administration Act 1953. It amends Product Ruling PR 2022/10 to incorporate updates to the General Policy Conditions and to the class of entities.
PR 2022/10 is amended as follows:
(a) Omit subparagraph (a); substitute:
- (a)
- those entities that purchase the LAP subject to the GPC (the Policyholder) on or after 1 July 2022 and on or before 30 June 2025, and either
- (i)
- are a resident of Australia for tax purposes at the time of purchase, or
- (ii)
- subsequent to that purchase and during the period on or after 1 July 2022 and on or before 30 June 2025, became a resident of Australia for tax purposes
(b) In subparagraph (b), after '(also a Policyholder)', insert 'on or after 1 July 2022 and'.
Omit all dot points; substitute:
- •
- application for a Product Ruling as constituted by information and documentation received on 23 September 2022 and 5 August 2024
- •
- the GPC and Application Form, dated 5 April 2021, and
- •
- the GPC dated January 2024 and Application Form dated September 2023.
Omit the paragraph; substitute:
Swiss Life, registered in Singapore and licensed as a life insurer under the Insurance Act of Singapore, issues the LAP. Entities (Policyholders) capable of purchasing the LAP from Swiss Life may, or may not, be residents of Australia for tax purposes at the time of purchase.
This Addendum applies both before and after its date of issue.
Commissioner of Taxation
23 October 2024
© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA
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References
ATO references:
NO 1-13J7T027
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You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
