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Income Tax Act 2007

Income - Income from insurance

CR 1: Policyholder base income of life insurer

You could also call this:

“Income from insurance policies that life insurers must include in their taxes”

If you are a life insurer, you might have something called policyholder base income in a given year. Even if this income isn’t usually counted as income under other parts of the law, it will still be treated as income for you in that year. This means you need to include it when you’re figuring out your total income for tax purposes.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1512894.

Topics:
Money and consumer rights > Taxes
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Part C Income
Income from insurance

CR 1Policyholder base income of life insurer

  1. If, but for this section, a life insurer has an amount of policyholder base income for an income year, and that amount is not income under this Part, the amount is income of the life insurer for the income year.

Notes
  • Section CR 1: substituted, on , by section 33(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).