CALU participated in the House of Commons Finance Committee (Finance Committee) 2015 pre-budget consultation process and made two recommendations:
- that the Federal government provide a tax incentive for the purchase of long term care insurance; and
- that the RRIF minimum formula be adjusted to account for lower interest rates and increased longevity.
The House of Commons Finance Committee has now issued its final report as part of the 2015 pre-budget consultation process. We are pleased to announce that in the main report CALU is mentioned as a witness on two separate occasions and the above-noted two recommendations have been incorporated into one recommendation at the conclusion of the report (see item #11 on page 72 of the report).
CALU is extremely pleased that the House Finance Committee has endorsed its recommendations to the Finance Minister and are hopeful that one or both recommendations will be reflected in the final 2015 federal budget.