Commentary

D7.596 Life assurance trade profit provisions—general principles

Corporate tax
Corporate tax | Commentary

D7.596 Life assurance trade profit provisions—general principles

Corporate tax | Commentary

Life assurance trade profits provisions—general principles of computation

D7.596 Life assurance trade profit provisions—general principles

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.

The profits of a life insurance company may have to be computed using the life assurance trade profit provisions for a variety of reasons:

  1.  

    (a)     the company is one which is assessed under those provisions because it writes all, or substantially all gross roll up business or it is a pure reinsurer1;

  2.  

    (b)     in order to calculate a trading profit for the

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