Commentary

D7.509 Mutual companies

Corporate tax
Corporate tax | Commentary

D7.509 Mutual companies

Corporate tax | Commentary

D7.509 Mutual companies

The rules in this division apply for accounting periods beginning before 1 January 2013. For accounting periods beginning on or after 1 January 2013 see Division D7.4.

As noted above, a number of life insurance companies remain constituted as mutual societies which have no shareholders; instead the policy holders are the owners of the business through their membership rights and have full entitlement to all of the profits arising. Although many such societies have demutualised in recent years, a number remain and many of that remainder have themselves acquired businesses that are not mutual. A detailed discussion

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