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

Section 840r22
Disposition versions

Full text
840R22. (Revoked).
s. 840R13; O.C. 3926-80, s. 32; R.R.Q., 1981, c. I-3, r. 1, s. 840R13; O.C. 1472-87, s. 21; O.C. 1470-2002, s. 60; O.C. 134-2009, s. 1; 2019, c. 14, s. 646.
840R22. An insurer may deduct, in respect of a life insurance policy other than a policy referred to in section 840R17 or 840R18, an amount not exceeding the greater of
(a)  the amount by which the cash surrender value of the policy, at the end of the year, exceeds the amount payable in respect of a policy loan outstanding at that time and made in respect of such policy or in respect of the interest accrued on such loan for the benefit of the insurer at the end of the year; or
(b)  the amount by which the discounted value of the future benefits provided by the policy at the end of the year exceeds the aggregate of the discounted value, at that time, of any future modified net premium in respect of the policy and of the amount payable in respect of a policy loan outstanding at that time and made in respect of the policy or in respect of the interest accrued on such loan for the benefit of the insurer at the end of the year.
s. 840R13; O.C. 3926-80, s. 32; R.R.Q., 1981, c. I-3, r. 1, s. 840R13; O.C. 1472-87, s. 21; O.C. 1470-2002, s. 60; O.C. 134-2009, s. 1.
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