3685.A payment made by an individual is not exempt from income tax in the recipient’s hands under section 729 of this Act if the payment is made for non-taxable consideration unless either condition B or C in that section is satisfied. This paragraph adds a further condition which, if satisfied, renders the payment exempt in the recipient’s hands.
Schedule 2: Transitionals and savings etc. Part 9: Exempt income Paragraph 147: Annuity payments for non-taxable consideration