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“Outdated tax rule about policyholder debits no longer applies”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.
