#### 15‑55 Certain amounts paid under funeral policy (1) Your assessable income includes the amount of a benefit provided to you by a \*life insurance company under a \*funeral policy issued after 31 December 2002 to pay for the funeral of the insured person, reduced by: (a) the amount of the premium or premiums of the policy that is reasonably related to the benefit; and (b) the amount of the fees and charges included in the company’s assessable income for any income year under paragraph 320‑15(1)(k) that is reasonably related to the benefit. (2) This section does not apply if the benefit is included in your assessable income as: (a) \*ordinary income under section 6‑5; or (b) \*statutory income under a section of this Act other than this section.

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Section 15‑55 Certain amounts paid under funeral - Income Tax Assessment Act 1997 - 15‑55 Certain amounts paid under funeral policy — Zoe