Income Tax Regulations — 1900
e Act in respect of an excluded arrangement of the insurer in computing the insurer’s income for the year, if that amount were determined without reference to any policy loan; B is the total of all amounts each of which is the maximum amount that would have been deductible under subparagraph 138(3)(a)(i), (ii) or (iv) of the Act in respect of an excluded arrangement of the insurer in computing the insurer’s income for the immediately preceding year, if that amount were determined without reference to any policy loan; C is the total of all amounts each of which is the amount of a benefit, determined on a net of reinsurance ceded basis, that has become payable by the insurer in the year in respect of an excluded arrangement of the insurer, to the extent that the benefit is deducted in computing the insurer’s income for the year under Part I of the Act from carrying on a life insurance business in Canada; D is the total of all amounts each of which is the amount of a premium, determined on a net of reinsurance ceded basis, that has become receivable by the insurer in the year in respect of an excluded arrangement of the insurer, to the extent that the premium is included in computing the insurer’s income for the year under Part I of the Act from carrying on a life insurance business in Canada; E is the positive or negative amount, as the case may be, in respect of the insurer for the year determined by the formula (G - H) - (I - J) + (K - L) - (M - N) where G is the total of all amounts each of which is the maximum amount that would be deductible under subparagraph 138(3)(a)(i), (ii) or (iv) of the Act in respect of a taxable life insurance policy of the insurer in computing the insurer’s income for the year, if that amount were determined without reference to any policy loan or reinsurance arrangement, H is the total of all amounts each of which is the maximum amount that would be deductible under subparagraph 138(3)(a)(i), (ii) or (iv) of the Act in respect of a taxable life insurance policy of the insurer in computing the insurer’s income for the year, if that amount were determined without reference to any policy loan, I is the total of all amounts each of which is the maximum amount that would have been deductible under subparagraph 138(3)(a)(i), (ii) or (iv) of the Act in respect of a taxable life insurance policy of the insurer in computing the insurer’s income for the immediately preceding taxation year, if that amount were determined without reference to any policy loan or reinsurance arrangement, J is the total of all amounts each of which is the maximum amount that would have been deductible under subparagraph 138(3)(a)(i), (ii) or (iv) of the Act in respect of a taxable life insurance policy of the insurer in computing the insurer’s income for the immediately preceding taxation year, if that amount were determined without reference to any policy loan, K is the total of all amounts each of which is the amount of a benefit that has become payable in the year by the insurer under a taxable life insurance policy of the insurer, L is the total of all amounts each of which is the amount of a benefit, determined on a net of reinsurance ceded basis, that has become payable by the insurer under a taxable life insurance policy of the insurer, to the extent that it is deducted in computing the insurer’s income from carrying on a life insurance business in Canada for the year, M is the total of all amounts each of which is the amount of a premium that has become receivable by the insurer in the year under a taxable life insurance policy of the insurer, and N is the total of all amounts each of which is the amount of a premium, determined on net of reinsurance ceded basis, that has become receivable by the insurer in the year under a taxable life insurance policy of the insurer, to the extent that the premium is included in computing the insurer’s income from carrying on a life insurance business in Canada for the year; and F is t