Part 5Miscellaneous income

Chapter 7Annual payments not otherwise charged

683Charge to tax on annual payments not otherwise charged

1

Income tax is charged under this Chapter on annual payments that are not charged to income tax under or as a result of any other provision of this Act or any other Act.

2

Subsection (1) does not apply to annual payments that would be charged to income tax under or as a result of another provision but for an exemption.

3

The frequency with which payments are made is ignored in determining whether they are annual payments for the purposes of this Chapter.

4

For exemptions, see in particular—

a

sections 727 to 730 (certain annual payments by individuals),

b

section 731 (periodical payments of personal injury damages),

c

section 732 (compensation awards),

d

section 734 (payments from trusts for injured persons),

e

sections 735 to 743 (health and employment insurance payments),

f

sections 744 to 747 (payments to adopters),

F1g

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

h

sections 757 to 767 (interest and royalty payments), and

i

section 776 (scholarship income).