On July 8, 2020 CALU held its first ever virtual CALU CRA Roundtable. CALU wishes to thank CRA representatives Stéphane Charette – Director, Financial Industries and Trust Division, CRA and Bob Naufal – Senior Manager, Income Tax Rulings Directorate, CRA, as well as CALU Tax Advisors Kevin Wark and Angela Ross (PwC LLP) for participating in the Roundtable. Included in this special CALU Report are the complete Roundtable Q&As as well as applicable CALU Commentary.

Topics covered in this report include:

  • CRA Audit Activities
  • Return of Premiums on Death – Capital Dividend Account
  • Proceeds of an Insurance Policy and Calculation of the CDA credit
  • Segregated Fund Policies and Section 85 Rollover
  • Jointly Owned Policies and subsection 70(5.3)
  • Pipeline Planning – Gradual Repayment of Loan
  • Valuation of Private Company Shares
  • Tax Folios on Life Insurance Dispositions
  • CRA Newsletter on Section 147.4 Annuities

(Members only)

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