I-3 - Taxation Act

Section 163.0.1 Disposition versions

2017-02-08

163.0.1. For the purposes of sections 160 and 163, an amount is not an amount paid or payable as interest if

(a)  the amount

i.  is paid, after 20 March 2013 in respect of a period that begins after 31 December 2013, in respect of a life insurance policy that is, at the time of the payment, a leveraged insurance policy, and

ii.  is described in paragraph a of the definition of “leveraged insurance policy” in section 1; or

(b)  the amount

i.  is payable, in respect of a life insurance policy, after 20 March 2013 in respect of a period that begins after 31 December 2013 during which the policy is a leveraged insurance policy, and

ii.  is described in paragraph a of the definition of “leveraged insurance policy” in section 1.

2017, c. 1, s. 96.