Advocating for the financial security of Canadians

CALU engages in public policy advocacy for the benefit of individual Canadians and the small business community. Our approach is nonpartisan, collaborative and informed by sound analysis and technical expertise. CALU is committed to strong relationships with federal public policy makers and is proud to be a trusted advisor to the federal government.

Our public policy priorities

Public Policy Priorities

Download our Public Policy Priorities (PDF), highlighting our priorities and our recommendations to the federal government for legislative change .

CALU calls on the federal government to enhance the financial well-being of Canadians and family businesses through the following actions:

  • Intergenerational business transfers: Support the successful transition of small businesses to family members by ensuring the final legislation amending section 84.1 of the Income Tax Act is expeditiously enacted in early 2024 .
  • Self-employed individuals: Closely monitor the recent reduction in the number of self-employed in Canada and take any necessary action to ensure the prosperity of this important economic pillar.
  • Allow unused RRSP contribution room to be annually indexed to partially compensate for the loss of tax deferred savings due to the deferral of contributions resulting from other financial priorities.
  • In combination with changes to RRIF rules discussed below, permit RRSP contributions to continue past age 71.
  • Modify RRIF payout requirements in the following ways:
    • Reduce Similar to the result achieved by purchasing an Advanced Life Deferred Annuity (ALDA) allow RRIF hold
    • Similar to the result achieved by purchasing an Advanced Life Deferred Annuity (ALDA) allow RRIF holders to exclude up to $170,000 (indexed) from the application of the RRIF minimum payment formula until the RRIF holder attains age 85.
    • Defer immediately or over time the requirement to convert an RRSP to a RRIF to age 75.
  • Make more publicly transparent the factors used to establish the RRIF minimum payment formula and establish a regular process for reviewing the RRIF minimum payout formula to ensure it continues to meet the income needs of older retirees.
  • Provide a 35 percent refundable tax credit in respect of the cost of dental care programs for employees of qualifying small businesses. The credit should be designed to support small businesses with employees earning less than the income coverage limits under the CDCP, among other eligibility criteria.
  • Follow the recommendations of the Smart Health Benefits Coalition on pharmacare including providing prescription drug coverage to those who need, but cannot afford, essential medications while preserving the current system of group insurance that works well for millions of Canadians.