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Taxation and Life Insurance: A Theoretical Analysis

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  • IAN R. HARPER

Abstract

Taxation of life insurance is generally considered to pose special and complex problems. These are alleged to stem from the special nature of life insurance. This paper challenges the notion that there is anything inherently special about the economics of life insurance and disputes the claim that it warrants special tax treatment. A model of the life insurance firm is presented and the appropriate basis for taxing life insurance companies and their policyholders is derived. This is compared with the system of taxation currently operating in Australia.

Suggested Citation

  • Ian R. Harper, 1984. "Taxation and Life Insurance: A Theoretical Analysis," The Economic Record, The Economic Society of Australia, vol. 60(2), pages 165-175, June.
    • Handle: RePEc:bla:ecorec:v:60:y:1984:i:2:p:165-175
    DOI: 10.1111/j.1475-4932.1984.tb00850.x
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    References listed on IDEAS

    as
    1. Ian R. Harper, 1983. "Campbell On The Taxation Of Life Insurance And Superannuation In Australia," Economic Papers, The Economic Society of Australia, vol. 2(S1), pages 25-37, April.
    2. John M. Marshall, 1974. "Insurance As a Market in Contingent Claims: Structure and Performance," Bell Journal of Economics, The RAND Corporation, vol. 5(2), pages 670-682, Autumn.
    3. Marshall, John M, 1974. "Insurance Theory: Reserves versus Mutuality," Economic Inquiry, Western Economic Association International, vol. 12(4), pages 476-492, December.
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