Timing and quantifying rules - Life insurance rules - Transitional adjustments and annuities
EY 34: Mortality profit formula: negative result
You could also call this:
“This rule about calculating life insurance profits no longer applies”
You should know that this part of the law, called ‘Mortality profit formula: negative result’, no longer applies. It was removed from the Income Tax Act 2007 on 1 July 2010. This means that you don’t need to worry about this specific rule anymore when thinking about income tax in New Zealand.
