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EY 5: Part-year tax calculations
or “How to calculate taxes for part of a year if you're a life insurer”
You could also call this:

“The Commissioner can seek expert advice on financial calculations and risks”

You need to know that the Commissioner can ask an actuary for advice. This can happen when something needs to be figured out using maths and statistics about risks and money. The Commissioner can also ask for help on any related matters. An actuary is a person who is really good at using maths to work out risks and financial stuff, especially for insurance companies.

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Next up: EY 7: Meaning of claim

or “What counts as a claim for life insurance payments”
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Part E Timing and quantifying rules
Life insurance rules

EY 6Actuarial advice and guidance

  1. The Commissioner may seek the advice of an actuary on anything that is required to be actuarially determined, or any related matter.

Notes
  • Section EY 6: substituted, on , by section 186(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).
  • Section EY 6: amended, on , by section 82 of the Financial Markets Authority Act 2011 (2011 No 5).