Commentary

E1.442 Life insurance gains—relevant policies

Personal and employment tax

E1.442 Life insurance gains—relevant policies

E1.442 Life insurance gains—relevant policies

Subject to the exclusions described in E1.444, the rules apply to:

  1.  

    •     policies of life insurance

  2.  

    •     contracts for life annuities

  3.  

    •     capital redemption policies1

Anti-avoidance—connected policies

Policies or contracts that are connected with each other are treated as a single policy for the purposes of the life insurance gains rules2. This has effect in relation to policies and contracts made on or after 21 March 2012, and to pre-existing policies and contracts in the event of specified alterations made on or after that date3. The specified alterations are: a variation resulting in an increase in

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