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Income Tax Regulations

Version of section 1406 from 2013-06-26 to 2022-12-31:

 Any amount determined under section 1404 or 1405 shall be determined

  • (a) net of relevant reinsurance recoverable amounts;

  • (b) by excluding any obligation to pay a benefit under a segregated fund policy if

    • (i) the amount of the benefit varies with the fair market value of the segregated fund at the time the benefit becomes, or may become, payable, and

    • (ii) the benefit is not in respect of a guarantee given by the insurer under a segregated fund policy; and

  • (c) without reference to any amount in respect of a deposit accounting insurance policy.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/79-425, s. 1
  • SOR/99-269, s. 6
  • 2010, c. 25, s. 79
  • 2013, c. 34, s. 387

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