Timing and quantifying rules - Life insurance rules - Transitional adjustments and annuities
EY 43C: Policyholder income formula: PILF adjustment
You could also call this:
“This rule about calculating policyholder income was removed from the law in 2010”
This section of the law, called ‘Policyholder income formula: PILF adjustment’, used to be part of the Income Tax Act 2007. However, it has been removed from the law. The government took it out on 1 July 2010. This means that this particular rule about calculating policyholder income no longer applies. If you need to know about current rules for policyholder income, you should look at other parts of the Income Tax Act that are still in effect.
