Memorandum accounts - Policyholder credit accounts (PCA) - Policyholder credits of PCA person
OJ 15: PCA person’s credit for transfer of life insurance business
You could also call this:
“Credit for transferring life insurance business no longer applies”
You should know that this part of the law no longer exists. It used to talk about something called a ‘PCA person’s credit for transfer of life insurance business’, but it was removed from the law on 1 July 2010. This means that whatever rules were in this section before are no longer in effect. If you need information about how life insurance business transfers are handled now, you might need to look at other parts of the Income Tax Act 2007 or ask a tax expert for the most up-to-date information.
