Keyman insurance policy: amendment treats interest and sums received under such policies, including bonuses, as taxable receipts. The amendment substitutes the prior phrase to include interest on such contributions and any sum received under a Keyman insurance policy, including sums ... Summary
Keyman insurance policy: amendment treats interest and sums received under such policies, including bonuses, as taxable receipts.
The amendment substitutes the prior phrase to include interest on such contributions and any sum received under a Keyman insurance policy, including sums allocated by way of bonus on such policy, and provides an explanation that the expression "Keyman insurance policy" has the meaning assigned in clause (10D) of section 10.
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