Commonwealth Numbered Regulations

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INCOME TAX ASSESSMENT (1997 ACT) REGULATIONS 2021 (F2021L00206) - REG 26.85.01

Borrowing costs on loans to pay life insurance premiums--term insurance policy etc.

                   For the purposes of subsection 26-85(2) of the Act, the risk component of a premium received in respect of a life insurance policy that is:

                     (a)  a term insurance policy; or

                     (b)  a rider or supplementary benefit attached to another policy where the sum insured is payable on death within a specified term;

is an amount that is equal to the whole of the amount of the premium.


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