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

Section 92.11r4
Disposition versions

Full text
92.11R4. An accumulating fund at a particular time in respect of a taxpayer’s interest in an annuity contract described in paragraph a of section 92.11R2 is an amount equal to the greater of
(a)  the amount by which the cash surrender value of the taxpayer’s interest at that time exceeds the amount payable in respect of a loan unpaid at that time and made under the contract in respect of the interest; and
(b)  the amount by which the actualized value at that time of the future payments to be made under the contract in respect of the taxpayer’s interest exceeds the aggregate of the actualized value at that time of future premiums to be paid under the contract in respect of the taxpayer’s interest and the amount payable in respect of a loan unpaid at that time and made under the contract in respect of the taxpayer’s interest.
s. 92.11R1.0.2; O.C. 67-96, s. 10; O.C. 134-2009, s. 1.
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