Income Tax Act 2007(c. 3) - Explanatory Notes

Explanatory Notes

Income Tax Act 2007

2007 CHAPTER 3

20 March 2007

Commentary on Sections

Part 15: Deduction of income tax at source

Overview

Chapter 3: Deduction from certain payments of yearly interest

Overview

Section 883: Interest on loan to buy life annuity

2666. This section provides an exception from the duty to deduct under this Chapter for interest subject to the regime in section 369 of ICTA. It is based on section 349(3) of ICTA.