CALU submission on technical tax bill: Trust reporting rules, graduated rate estates and more
CALU submission to Finance Canada on changes to various provisions of the Income Tax Act contained in technical amendments released on August 12, 2024 including trust reporting rules, graduated rate estates and more. download now
CALU submission on legislative proposals relating to Budget 2024: Employee ownership trusts (EOT)
CALU submission to Finance Canada on the capital gains exemption on qualifying sales to employee ownership trusts (EOT) provided in legislative proposals relating to Budget 2024 released on August 12, 2024. download now
CALU Practice Note: Leveraged Life Insurance and Banking Referrals
This Practice Note discusses, through a series of case studies, the federal Bank Act and provincial Insurance Act considerations relating to the referral of clients between banks (and other lending institutions) and insurance advisors. It also includes a discussion of the regulatory implications of “secondary loan” arrangements offered by certain lending institutions.(Members only) download now
Mentorship Program for 2024-2025
CALU is delighted to once again offer a mentorship program as a benefit to members until April 2025. The Mentorship program is intended to enable CALU members with many years of industry experience to share their wisdom and vast knowledge with other members who are interested in learning from them. Mentorship isn’t intended to only be beneficial for mentees. It also gives mentors the chance to grow both personally and professionally with the fulfillment of helping others advance their careers. Mentor benefits As a mentor, you will unlock your treasured experiences with other members, paying it forward to ...
CALU Special Report: Update on Life Insurance in Life Insurance Trusts
This CALU Special Report provides an update on CALU’s request for a legislative amendment to permit a life insurance trust to own and fund a life insurance policy and discusses options available to plan for the tax liability that can arise on the death of a life interest beneficiary. We extend our thanks to CALU’s tax advisor, Kevin Wark and Associate Members Florence Marino, Hemal Balsara, Stuart Dollar and Patrick Uzan for their work in preparing this publication. Download now
CALU submission in advance of the 2025 federal budget
CALU’s pre-budget submission to the Standing Committee on Finance in advance of Budget 2025. It recommends that the federal government: Commission an expert panel to review the tax rules governing small businesses Study the decline in self-employment since 2019 Update RRSP and RRIF rules to enhance the retirement income system for younger and older Canadians Provide a 35 percent refundable tax credit relating to the cost of dental care programs for employees of small businesses Develop pharmacare using the same general approach as the federal dental plan: supporting those without prescription drug coverage while leaving workplace benefit plans intact ...
Letter to Finance Canada on capital gains exemption for Employee Ownership Trusts
In this letter to the Department of Finance, we recommend amendments to legislation providing a capital gains exemption of up to $10 million to individuals who sell shares of a corporation to an Employee Ownership Trust (EOT). Download now
CALU Special Report: 2024 CRA-Finance roundtable (revised)
This revised CALU Special Report provides the full text of the questions and written responses provided by the Canada Revenue Agency (CRA) and additionally Finance Canada as part of the CRA-Finance Canada roundtable at our 2024 Conference & AGM. This session which took place on May 7, 2024 allowed Conference registrants to hear from senior representatives from both organizations respond to CALU’s questions on tax policy and legislation matters, technical interpretations and audit-related issues. CALU commentary has also been included where appropriate. Download the report
INFOexchange 2024 vol. 2 is now available!
This year’s second edition of INFOexchange provides two expert articles: Kevin Wark discusses the new intergenerational transfer rules for family businesses in “Section 84.1 changes – Special considerations”; and Florence Marino and Kevin Wark address the Budget 2024 proposals to increase the capital gains inclusion rate in “Capital gains proposals – Impact on business succession planning.” The publication also includes the first message from our Chair, Jeff Wilson, as well as an advocacy update from the Chair of the new Tax Policy and Advocacy Committee, Diane Everett. Download the report
CALU Special Report: 2024 CRA-Finance roundtable – Update from CRA
This CALU Special Report provides the full text of the questions and written responses provided by the Canada Revenue Agency (CRA) as part of the CRA-Finance Canada roundtable at our 2024 Conference & AGM. This session which took place on May 7, 2024 allowed Conference registrants to hear from senior representatives from both organizations respond to CALU’s questions on tax policy and legislation matters, technical interpretations and audit-related issues. CALU commentary has also been included where appropriate. Download the report
