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EY 35: How discontinuance profit is calculated
or “This section has been removed and no longer applies”
You could also call this:

“This section about profit when stopping business was removed from the tax law in 2010”

This section of the law, called ‘Discontinuance profit for income year’, used to be part of the Income Tax Act 2007. It was in a part of the act about ‘Transitional adjustments and annuities’. However, this section doesn’t exist anymore. The government removed it on 1 July 2010. If you need to know about this topic now, you should look at newer parts of the tax law.

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Next up: EY 37: Discontinuance profit formula (existing policies)

or “Section removed: Formula for profit on existing policies no longer applies”
Next

Part E Timing and quantifying rules
Life insurance rules: Transitional adjustments and annuities

EY 36Discontinuance profit for income year (Repealed)

    Notes
    • Section EY 36: repealed, on , by section 190(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).