Annuity deposit rates tiered by total income set required deposits with capped limits based on income excess. The Schedule prescribes tiered annuity deposit obligations tied to a depositor's total income, setting percentage rates on adjusted total income for each ... Summary
Annuity deposit rates tiered by total income set required deposits with capped limits based on income excess.
The Schedule prescribes tiered annuity deposit obligations tied to a depositor's total income, setting percentage rates on adjusted total income for each income band and capping required deposits by formulas that combine a percentage-based amount on the lower income portion with one-half of the excess over the applicable threshold; "total income" excludes any allowance under section 280-O of the Income-tax Act.
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