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Notice of Withdrawal - Income tax: captive insurance companies - deductibility of premiums and the appropriate basis of assessment

Notice of Withdrawal

Draft Taxation Ruling TR 94/D36 is withdrawn with effect from today.

The Ruling has been withdrawn because its reasoning is contrary to the decision in WD & HO Wills (Australia ) Pty Ltd v. FC of T 96 ATC 4223; 22ATR 168. The Commissioner though reserves the right to test judicially any captive insurance company case which exhibits blatant or objectionable features.

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