As part of its 2018 Annual General Meeting, CALU held a CRA-Finance Roundtable. Participants included:

  • Stéphane Charette, CPA, MBA, Director, Financial Industries and Trusts Division, Canada Revenue Agency;
  • Bob Naufal, CPA, Manager, Financial Institutions Section, Canada Revenue Agency; and
  • Trevor McGowan, Director General (Legislation), Tax Legislation Division, Tax Policy Branch, Department of Finance.

The Roundtable was hosted by Angela Ross, LL.B, TEP, Tax Consultant, CALU, and Principal, High Net Worth Services, PwC LLP; and Kevin Wark, LL.B, CLU, TEP, Tax Consultant, CALU.

The CRA’s official responses to the questions, along with CALU commentary where appropriate, are provided in this issue of CALU Report.

Topics covered in this report include:

  • Section 15 – Back-to-back loans
  • CDA Credit – Corporate joint/co-ownership of insurance
  • Subsection 148(8) – Transfer of an insurance policy from a parent to child
  • Timing of donations from an estate
  • Excess corporate holdings regime and life interest trusts
  • Excluded Shares & Provision of Services
  • Excluded Shares & Shares of Holding Corporations
  • Golini v. The Queen

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