Commentary

E1.454C Personal portfolio bonds—specified index categories

Personal and employment tax

E1.454C Personal portfolio bonds—specified index categories

E1.454C Personal portfolio bonds—specified index categories

A policy or contract is not a PPB if the only selection by the policyholder is an index which is1:

  1.  

    •     the retail prices index

  2.  

    •     a similar index published by the government of a foreign state, or

  3.  

    •     a published index of share prices listed on a recognised stock exchange

The right to select the index must be available to all policyholders of the insurance company or to a particular class of policyholder2. A class of policyholder is a group (determined by the insurance company) of

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