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I-3, r. 1 - Regulation respecting the Taxation Act
Section 818r73
Disposition versions
818R73. For the purposes of this division, the amount computed in respect of an insurer for a particular month or part of a particular month, in this section referred to as a “month”, in a taxation year is the positive or negative amount determined by the formula
A – B.
In the formula in the first paragraph,
(a) A is the aggregate of all amounts each of which is
i. the amount of a premium or consideration received by the insurer in the month in respect of a contract of insurance, including a settlement annuity, entered into in the course of carrying on its insurance businesses in Canada,
ii. an amount received by the insurer in the month in respect of interest on or a repayment in respect of a policy loan made under a life insurance policy in Canada, or
iii. an amount received by the insurer in the month in respect of reinsurance, other than reinsurance undertaken to effect a transfer of a business in respect of which any of sections 832.3, 832.7 and 832.9 of the Act applies, arising in the course of carrying on its insurance businesses in Canada; and
(b) B is the aggregate of all amounts each of which is
i. the amount of a benefit or indemnity, including a payment under an annuity or settlement annuity, a payment of a policy dividend and an amount paid on a lapsed or terminated policy, a refund of premiums, a premium or a commission paid by the insurer in the month under a contract of insurance in the course of carrying on its insurance businesses in Canada,
ii. the amount of a policy loan made by the insurer in the month under a life insurance policy in Canada, or
iii. an amount paid by the insurer in the month in respect of reinsurance, other than reinsurance undertaken to effect a transfer of a business in respect of which any of sections 832.3, 832.7 and 832.9 of the Act applies, in the course of carrying on its insurance businesses in Canada.
