Page 30 - F6 Slide - Taxation - Lecture Day 2 Class
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Exemptions
• The following requirements should be met for
a annuity to be a purchased annuity:
-Should be purchased and the insurer agrees to
pay the purchaser, spouse an annuity until death
or on expiry of the contract.
-Purchaser paid a lumpsum.
-No amounts will be payable other than in a way
of an annuity.
• Paid to purchaser(natural person)
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