I-3 - Taxation Act

Section 1170 Disposition versions

2015-10-26

1170. For the purposes of section 1167, a corporation may deduct from the premiums payable the return premiums and the cash value of the dividends paid or credited to policyholders to the extent that such return premiums and dividends are in respect of risks covered by the insurance of persons resident in Québec, the insurance of property situated in Québec or a liability insurance subscribed by an underwriter resident or having an establishment in Québec.

The corporation may not, however, deduct from the premiums payable payment to the policyholder of cash surrender or loan values.

1972, c. 23, s. 880; 1996, c. 39, s. 273; 1997, c. 3, s. 71; 1997, c. 85, s. 321; 2015, c. 24, s. 160.

2006-03-01

1170. For the purposes of section 1167, a corporation may deduct from the premiums payable the return premiums and the cash value of the dividends paid or credited to policyholders to the extent that such return premiums and dividends are in respect of risks covered by the insurance of persons resident in Québec, the insurance of property situated in Québec or a liability insurance subscribed by an underwriter resident or having an establishment in Québec.

The corporation may not, however, deduct from the premiums payable payment to the insured of cash surrender or loan values.

1972, c. 23, s. 880; 1996, c. 39, s. 273; 1997, c. 3, s. 71; 1997, c. 85, s. 321.