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New Zealand law explained for everyone

Income Tax Act 2007

Memorandum accounts - Policyholder credit accounts (PCA) - Policyholder debits of PCA person

OJ 17: PCA person’s equivalent debit

You could also call this:

"Outdated tax rule about policyholder debits no longer applies"

This part of the law used to talk about something called a 'PCA person's equivalent debit'. It was part of the rules about 'Policyholder debits of PCA person' in the Income Tax Act 2007. However, this section doesn't apply anymore. The government removed it on 1 July 2010, so you don't need to worry about it now.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1519326.

Topics:
Money and consumer rights > Taxes
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OJ 16: PCA person’s payment of tax relating to policyholder base, or

"This section about how insurance companies paid tax on policyholder income was removed in 2010"

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OJ 18: PCA person’s debit for transfer of life insurance business, or

"Debit for transferring life insurance business (no longer applies)"

Part OMemorandum accounts
Policyholder credit accounts (PCA): Policyholder debits of PCA person

OJ 17PCA person’s equivalent debit (Repealed)

    Notes
    • Section OJ 17: repealed, on , by section 439(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).