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I-3 - Taxation Act
Section 1159.17
Disposition versions
1159.17. Where a person referred to in section 1171 is, at the time of the making of the insurance contract referred to in that section, a financial institution, the person shall, when filing the notice referred to in subsection 1 of that section, pay to the Minister a compensation tax equal to the percentage, specified in the second paragraph, of the amount of the premium payable by the person and in respect of which a tax must be paid under that section.
The percentage to which the first paragraph refers is equal to
(a) 0.35% in respect of a premium payable by a person before 31 March 2010;
(b) 0.55% in respect of a premium payable by a person during the period beginning on 31 March 2010 and ending on 31 December 2012;
(c) 0.3% in respect of a premium payable by a person during the period beginning on 1 January 2013 and ending on 2 December 2014;
(d) 0.48% in respect of a premium payable by a person during the period beginning on 3 December 2014 and ending on 31 March 2022; or
(e) 0.3% in respect of a premium payable by a person after 31 March 2022.
1159.17. Where a person referred to in section 1171 is, at the time of the making of the insurance contract referred to in that section, a financial institution, the person shall, when filing the notice referred to in subsection 1 of that section, pay to the Minister a compensation tax equal to the percentage, specified in the second paragraph, of the amount of the premium payable by the person and in respect of which a tax must be paid under that section.
The percentage to which the first paragraph refers is equal to
(a) 0.35% in respect of a premium payable by a person before 31 March 2010;
(b) 0.55% in respect of a premium payable by a person during the period beginning on 31 March 2010 and ending on 31 December 2012;
(c) 0.3% in respect of a premium payable by a person during the period beginning on 1 January 2013 and ending on 2 December 2014;
(d) 0.48% in respect of a premium payable by a person during the period beginning on 3 December 2014 and ending on 31 March 2022; or
(e) 0.3% in respect of a premium payable by a person during the period beginning on 1 April 2022 and ending on 31 March 2024.
1159.17. Where a person referred to in section 1171 is, at the time of the making of the insurance contract referred to in that section, a financial institution, the person shall, when filing the notice referred to in subsection 1 of that section, pay to the Minister a compensation tax equal to the percentage, specified in the second paragraph, of the amount of the premium payable by the person and in respect of which a tax must be paid under that section.
The percentage to which the first paragraph refers is equal to
(a) 0.35% in respect of a premium payable by a person before 31 March 2010;
(b) 0.55% in respect of a premium payable by a person during the period beginning on 31 March 2010 and ending on 31 December 2012;
(c) 0.3% in respect of a premium payable by a person during the period beginning on 1 January 2013 and ending on 2 December 2014;
(d) 0.48% in respect of a premium payable by a person during the period beginning on 3 December 2014 and ending on 31 March 2017; or
(e) 0.3% in respect of a premium payable by a person during the period beginning on 1 April 2017 and ending on 31 March 2019.
1159.17. Where a person referred to in section 1171 is, at the time of the making of the insurance contract referred to therein, a financial institution, the person shall, when giving the notice referred to in subsection 1 of that section, pay to the Minister a compensation tax equal to 0.35% of the amount of the premium payable by the person and in respect of which a tax must be paid under that section.
