Income Tax (Adjustment for Change of Basis of Computing Profit, Loss or Expense from Financial Instruments of Insurers) Regulations 2022

  Table of Contents

  Enacting Formula

1 Citation and commencement

2 Definitions

3 Transition from tax treatment under section 34A of Act to tax treatment under section 34AAA of Act

4 Transition from tax treatment under section 34AA of Act to tax treatment under section 34AAA of Act

5 Transition from other tax treatment to tax treatment under section 34AAA of Act

6 Additional amount treated as income under section 34AAA(7) of Act or allowable as deduction under section 34AAA(10) of Act due to capital loss or gain, where financial instrument had not been disposed of

7 Additional amount treated as income under section 34AAA(7) of Act or allowable as deduction under section 34AAA(10) of Act due to revenue gain or loss, where financial instrument had not been disposed of

8 Additional amount treated as income under section 34AAA(7) of Act or allowable as deduction under section 34AAA(10) of Act due to capital loss or gain, where financial instrument had been disposed of

9 Additional amount treated as income under section 34AAA(7) of Act or allowable as deduction under section 34AAA(10) of Act due to revenue gain or loss, where financial instrument had been disposed of