Section RD 38 — Income Tax Act 2007: Contributions to funds, trusts, and insurance premiums

RD 38 Contributions to funds, trusts, and insurance premiums Sickness, accident, or death benefit fund (1) The value of the benefit that an employer provides in contributing to a sickness, accident, or death benefit fund for an employee is the amount of the contribution made by the employer. Funeral trust (2) The value of the benefit that an employer provides in contributing to a funeral trust for an employee is the amount of the contribution made by the employer. Specified insurance premium (3) The value of the benefit that an employer provides in paying an insurance premium described in section CX 16 (Contributions to life or health insurance) for an employee is the amount of the premium paid by the employer. Insurance fund of friendly society (4) The value of the benefit that an employer provides in contributing to an insurance fund of a friendly society for an employee is the amount of the contribution made by the employer. Defined in this Act: amount , contribution , employee , employer , friendly society , sickness , accident , or death benefit fund , specified insurance premium , Compare: 2004 No 35 s ND 1I