I-3 - Taxation Act

Section 965.0.42 Disposition versions

2022-06-08

965.0.42. Where an amount is paid as a refund in circumstances described in subparagraph ii of paragraph g of the definition of “advanced life deferred annuity” in section 965.0.38, the following rules apply:

(a)  the amount must not, by reason only of that payment, be included in computing a taxpayer’s income under section 313.15; and

(b)  no deduction may be made under any provision of this Act in computing a taxpayer’s income in respect of the amount.

2022, c. 23, s. 88.