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INCOME TAX ASSESSMENT ACT 1997 - SECT 295.475

RSA providers--deductions for insurance premiums

    An * RSA provider can deduct premiums it pays for insurance policies that are wholly for its liability to provide benefits referred to in section   295 - 460 for its * RSA holders. It can deduct the amounts for the income year in which the premiums are paid.

Note:   If the RSA provider receives a rebate or refund of an insurance premium, the amount may be included in its assessable income: see table item   5 in section   295 - 320.


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