CALU has written to the Department of Finance to recommend changes to the Income Tax Act which would accommodate the transfer of a life insurance policy from a shareholder to a corporation under the relevant section of the Act, as well as to allow a private corporation which was the beneficiary of a life insurance policy owned by a trust to have the death benefit credited to its capital dividend account.
View CALU’s letter to Finance re “Capital Dividend Account on Trust Distributions of Life Insurance to a Corporate Beneficiary.”
View CALU’s letter to Finance re “Section 85 – Including Life Insurance in the Definition of Eligible Property.”
