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EX 70: Market value of life policy and superannuation entitlements
or “How to determine the value of life insurance and superannuation benefits for foreign investments”
You could also call this:

“Rules for buying or selling foreign investment fund interests at non-market prices”

When you buy or sell interests in foreign investment funds (FIFs), you need to be aware of special rules. These rules apply when you use certain methods to calculate your income from these investments. The methods include the comparative value method, the deemed rate of return method, the fair dividend rate method, and the cost method.

If you use any of these methods, Section GC 4 of the Income Tax Act 2007 applies to your transactions. This section deals with how to handle disposals and acquisitions of FIF interests that might not be at market value.

It’s important to understand these rules to make sure you’re reporting your FIF income correctly for tax purposes.

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Next up: EX 72: Commissioner’s default assessment power

or “Tax office can estimate your overseas investment income if you don't provide proper information”
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Part E Timing and quantifying rules
Controlled foreign company and foreign investment fund rules: Market value rules

EX 71Non-market transactions in FIF interests

  1. Section GC 4 (Disposals and acquisitions of FIF attributing interests) applies to acquisitions and dispositions of attributing interests in FIFs when the comparative value method, the deemed rate of return method, the fair dividend rate method, or the cost method is used.

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