Commentary

D7.577 Taxation of pension business

Corporate tax
Corporate tax | Commentary

D7.577 Taxation of pension business

Corporate tax | Commentary

D7.577 Taxation of pension business

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.

For accounting periods beginning on or after 1 January 2007, pension business is taxed as part of the composite gross roll up category described in D7.574.

As noted below, ICTA 1988, s 438(1) previously gave a general exemption from tax for income and gains referable to pension business. As part of the move to gross roll up business it was intended to repeal this section in full but it was pointed out during the consultation process that companies used its explicit exemption from tax in making claims under various double taxation treaties,

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