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I-3, r. 1 - Regulation respecting the Taxation Act

Section 92.11r5
Disposition versions

Full text
92.11R5. For the purposes of paragraph b of section 92.11R4, the actualized value of future payments and that of future premiums is computed using,
(a)  in the case where the interest rate used by the issuer for a period in order to fix the terms of the contract at the time of issue is lower than the rate used for that purpose for a subsequent period, the simple rate that, if it applied to each period, would yield the same terms; or
(b)  in all other cases, the rates that the issuer used in order to fix the terms of the contract at the time of issue.
s. 92.11R1.0.3; O.C. 67-96, s. 10; O.C. 134-2009, s. 1.
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