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The Ralph Report: life insurance changes


The changes for Life Insurance Companies are considerably different to those canvassed in the Ralph second discussion paper released in February 1999. One of the major changes from the discussion paper is that there has been a recognition that superannuation should be taxed in the same manner irrespective of the vehicle through which superannuation investment is canvassed, and other changes are contained in the mechanics or administration. Annuitants, pensioners and superannuation fund policyholders will be substantially left alone.

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Author Photo - Andrew Mills CTA-Life
Andrew Mills CTA-Life
Andrew commenced the role of Second Commissioner in March 2014. Andrew has overall responsibility for the ATO's law practice, including law interpretation, dispute resolution and the ATO's role in policy and law design. Andrew has over 30 years experience in taxation including periods in the ATO, commerce and the tax profession. Andrew was a Director of the specialist national tax firm, Greenwoods & Freehills for over 20 years and Managing Director of the firm from 2006 to 2011. Andrew was the 2006-2007 President of The Tax Institute, a Governor of the Taxation Research Foundation and also represented industry bodies across a number of sectors. Current at 18 May 2015 Click here to expand/collapse more articles by Andrew MILLS.
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