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Discussion Paper: Life Insurance Companies - Exempt Annuity Business


Tuesday, 12 May 2009

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On 12 May 2009 the Assistant Treasurer and Minister for Competition Policy and Consumer Affairs, the Hon Chris Bowen MP, announced that the Government will clarify the scope of the exempt annuity business of life insurance companies.  The Assistant Treasurer indicated that the Government would undertake consultation on the design of the amendments and that, initially, Treasury would release a consultation paper.

This discussion paper forms the basis for consultation on the design of this proposal and sets out the way it may be implemented.  The purpose of this discussion paper is to provide interested parties with an opportunity to comment on the design of the proposal.

Interested parties are invited to comment on the discussion paper. While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment. A request made under the Freedom of Information Act 1982 (Commonwealth) for a submission marked 'confidential' to be made available will be determined in accordance with that Act.

Closing date for submissions: Friday, 12 June  2009

Address written submissions to:
The Manager
Company Tax Unit
Business Tax Division
The Treasury
Langton Crescent

Fax: (02) 6263 4466

Email: companytax@treasury.gov.au

Documents Available:

Acrobat (PDF) documents

 Acrobat (PDF)

Discussion Paper: Life Insurance Companies - Exempt Annuity Business  249.01kb
Consultation Summary  29.96kb

Microsoft Word (RTF) documents

 Microsoft Word (RTF)

Discussion Paper: Life Insurance Companies - Exempt Annuity Business  115.45kb
Consultation Summary  866.67kb

Related Items:

Submissions: Discussion Paper - Life Insurance Companies - Exempt Annuity Business - 1/03/2011

Treasury has received two submissions in response to this consultation. There was one public submission, and one confidential submission. The public submission is listed below.

The opinions expressed in the submissions are those of the authors and do not necessarily reflect the views of the Government or the Treasury.

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