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Home / Simons-Taxes /Personal and employment tax /Part E1 Income tax /Division E1.4 Savings and investment income /Purchased life annuities / E1.430 Purchased life annuities—partial exemption
Commentary

E1.430 Purchased life annuities—partial exemption

Personal and employment tax

It is recognised both commercially and for tax purposes that an annuity payment under a PLA contains a capital element and a revenue element.

The recipient of a PLA payment is exempt from tax for the part of the payment representing the capital element (see E1.430D for claims and administration)1.

If

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