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EY 36: Discontinuance profit for income year
or “This section about profit when stopping business was removed from the tax law in 2010”
You could also call this:

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

You should know that the section ‘Discontinuance profit formula (existing policies)’ has been removed from the law. This means it no longer applies. The government took this section out of the Income Tax Act 2007 on 1 July 2010. If you need information about this topic, you should look for newer rules that might have replaced this one.

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Next up: EY 38: Discontinuance profit formula (new policies)

or “How profits were calculated when new insurance policies were stopped (no longer applies)”
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Part E Timing and quantifying rules
Life insurance rules: Transitional adjustments and annuities

EY 37Discontinuance profit formula (existing policies) (Repealed)

    Notes
    • Section EY 37: repealed, on , by section 190(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).