The exemption for a payment made under a purchased life annuity only applies to part of the payment. Rules determine the extent to which the annuity payment is exempt1.
The rules depend on whether both the amount of the annuity, and the term of the annuity depend solely on the duration of a human life or lives2.
If the amount of the annuity
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Web page updated on 17 Mar 2025 13:42