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

Section 818r16 Disposition versions

2017-04-12

818R16. (Revoked).

s. 818R9.5; O.C. 91-94, s. 61; O.C. 1707-97, s. 59; O.C. 1466-98, s. 126; O.C. 1470-2002, s. 52; O.C. 134-2009, s. 1; O.C. 321-2017, s. 36.

2012-09-01

818R16. For the purposes of section 818R14, the positive or negative amount that is required to be determined in respect of an insurer for a particular quarter of one of its taxation years is established according to the following formula:

A – B.

In the formula in the first paragraph,

(a)  A is the aggregate of the following amounts:

i.  a premium or consideration received by the insurer during the quarter in respect of an insurance contract or an annuity, including a settlement annuity, entered into in the course of carrying on its insurance businesses in Canada,

ii.  an amount received by the insurer during the quarter as interest on or repayment in respect of a policy loan made under a life insurance policy in Canada, and

iii.  an amount received by the insurer during the quarter in respect of reinsurance, other than reinsurance undertaken to effect the transfer of a business in respect of which any of sections 832.3, 832.7 and 832.9 of the Act applies, undertaken in the course of carrying on its insurance businesses in Canada and that is not otherwise described in subparagraph i or ii;

(b)  B is the aggregate of

i.  an indemnity or benefit, including payment of an annuity or a settlement annuity, payment of a policy dividend and an amount paid on lapsed or terminated policy, or a refund of premiums paid by the insurer during the quarter under an insurance contract or an annuity in the course of carrying on its insurance businesses in Canada,

ii.  a policy loan made by the insurer during the quarter under a life insurance policy in Canada,

iii.  a premium or a commission paid by the insurer during the quarter in respect of an insurance contract or an annuity in the course of carrying on its insurance businesses in Canada, and

iv.  an amount paid by the insurer during the quarter in respect of reinsurance, other than reinsurance undertaken to effect the transfer of a business in respect of which any of sections 832.3, 832.7 and 832.9 of the Act applies, undertaken in the course of carrying on its insurance businesses in Canada and that is not otherwise described in any of subparagraphs i to iii.

s. 818R9.5; O.C. 91-94, s. 61; O.C. 1707-97, s. 59; O.C. 1466-98, s. 126; O.C. 1470-2002, s. 52; O.C. 134-2009, s. 1.