E1.546 Exempt Proportion Where Annuity Term Dependent Solely On Duration Of Life

Home / Simons-Taxes /Personal and employment tax /Part E1 Income tax /Division E1.5 Miscellaneous and exempt income /Purchased life annuities / E1.546 Exempt proportion where annuity term dependent solely on duration of life

Commentary

Personal and employment tax

Where the amount of the annuity payment depends solely on the duration of a human life or lives, the same proportion (the exempt proportion) of each payment is exempt from income tax¹.

Where the term of the annuity is solely dependent on the duration of a human life or lives, the

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