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"Point in Time" Regulation Content

Insurance Premium Tax Act

Exclusion Regulation

B.C. Reg. 89/58

 Regulation BEFORE repealed by BC Reg 143/2005, effective January 1, 1997.

B.C. Reg. 89/58
O.C. 114/58

Insurance Premium Tax Act

Exclusion Regulation

 Exclusion

1  For the purpose of section 3 of the Insurance Premium Tax Act, premiums paid for medical services or hospitalization under a medical service or hospitalization plan that

(a) is established and managed by a society or association registered under the Society Act,

(b) provides medical and (or) surgical benefits not less than medical or surgical benefits provided under the least beneficial plan operating under agreement with the British Columbia Division of the Canadian Medical Association,

(c) provides for the payment of the amount of the medical, surgical and (or) hospitalization benefit directly to the physician, surgeon and (or) hospital, and

(d) is not operated for the acquisition of profit or gain

are excluded from gross premiums taxable under this section.

[Provisions of the Insurance Premium Tax Act, R.S.B.C. 1996, c. 232, relevant to the enactment of this regulation: sections 3 and 41]