Timing and quantifying rules - Life insurance rules - Transitional adjustments and annuities
EY 40: Discontinuance profit formula (new policies): when partial reinsurance exists
You could also call this:
“How profit was calculated for discontinued insurance policies with partial reinsurance (no longer applies)”
This section of the law, called ‘Discontinuance profit formula (new policies): when partial reinsurance exists’, used to be part of the Income Tax Act 2007. However, it no longer applies. The government removed this section on 1 July 2010. If you need to know about how this used to work, you might need to look at older versions of the law or ask someone who specialises in tax history.
