Taxation of free-passage benefit transferred to life insurance

ATA/711/1995Cour de justice / Verwaltungskammer12.12.1995Dismissed

Von Omnilex extrahiert

Omnilex-Zusammenfassung

The appellant asked that the value of a free-passage policy be transferred to a life insurance policy. The court held that this request terminated the free-passage policy and amounted to receipt of the benefit in cash. Since the appellant moved from an institutional occupational pension setup to a tied-pension arrangement, the sum was taxable under Art. 31c LCP. The appeal was dismissed.

Omnilex-Regeste

Art. 31c LCP; taxation of a free-passage benefit following transfer to life insurance: where the insured requests that the amount of a free-passage policy be transferred to a life-insurance policy, the free-passage policy is thereby terminated and the benefit is deemed received in cash. The transaction is not a neutral internal transfer within the same occupational pension system, but a change from an institutional pension arrangement to a tied-pension arrangement; the amount is therefore taxable as a free-passage benefit (consid. not specified).

Gesamter Gesetzestext

Descripteurs

IMPOT; PREVOYANCE PROFESSIONNELLE; LIBRE PASSAGE(ASSURANCES); POLICE; FIN

Normes

LCP.31 c

Résumé

En demandant le transfert du montant de sa police de libre passage à une assurance-vie, le recourant a résilié cette police et a touché en espèce la prestation de libre passage. Il est passé d'un système de prévoyance institutionnelle à un système de prévoyance liée. Cette somme pouvait donc être imposée en application de l'art. 31 c LCP.

Schlagwörter

taxationoccupational pensionfree-passage policylife insurancecash withdrawaltied pension

Von Omnilex extrahiert

Von Omnilex extrahierte Kernrechtsfragen

Kernrechtsfrage

Whether the transfer of a free-passage policy amount to a life insurance policy makes the amount taxable under Art. 31c LCP.

Extrahierter Entscheid

By requesting the transfer, the appellant terminated the free-passage policy and received the free-passage benefit in cash; the amount therefore remained taxable under Art. 31c LCP.

Extrahierte Begründung

The move shifted the appellant from an institutional occupational pension arrangement to a tied-pension arrangement. This constituted a withdrawal of the free-passage benefit rather than a tax-neutral mere transfer within the same system.

Taxation of free-passage benefit transferred to life insuranceKI-generiert