CALU 2025 pre-budget submission to the Department of Finance
CALU’s pre-budget submission to Finance Canada in advance of Budget 2025. It recommends that the federal government: Abandon its intention to implement an increase in the capital gains inclusion rate Commission an expert panel to review and report on the tax rules governing small businesses 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 ...
Liberal Leadership Candidates – Positions on Key Issues
Read our latest “Tax Byte” which focusses on the positions of Liberal leadership candidates on key tax and policy issues. Download now
Capital Gains Inclusion Rate Increase Deferred to 2026
Last week Finance Canada announced it would defer to January 1, 2026, the implementation date of the increase in the capital gains inclusion rate announced in Budget 2024 for which legislation was not enacted. In parallel, the Canada Revenue Agency (CRA) announced it reverted to administering the currently enacted capital gains inclusion rate of one-half. Read our short “Tax Byte” which reviews the key elements of both announcements and discusses implications for taxpayers. Download now
Extension of Charitable Gifting Rules – More Certainty
The federal government recently provided additional information on its previous announcement it would extend the 2024 tax deadline for charitable donations to February 28, 2025. Draft legislation from Finance Canada now confirms the deadline extension will apply to gifts made by corporations and individual donors including trusts. The Canada Revenue Agency (CRA) also announced it will administer the 2024 deadline extension as if it has been enacted. Read CALU’s analysis on the scope and limitations of some of these provisions, including in relation to and individual’s death after 2024. Download now
Extension of 2024 Charitable Donation Deadline
The federal government recently announced it would amend the Income Tax Act to extend the deadline for claiming charitable donations in 2024 to include donations made up to February 28, 2025 to mitigate the impact of the recent postal strike on charities and their donors. The government indicated it would introduce the enacting legislation “once Parliament returns in the new year.” Read CALU’s perspective on the planning and political considerations related to this measure. Download now
INFOexchange 2024 vol. 4 is now available!
In our final INFOexchange of 2024 you’ll read: Message from CALU’s Chair of the Board of Directors, Jeff Wilson Government Relations column from the Chair of our Tax Policy and Advocacy Committee, Diane Everett Expert article on “Insurance Policy Trusts in a Will – Your Wish is Not My Command” from Sanjana Bhatia, Scotia Wealth Management Expert article on “CRA Comments on New Intergenerational Transfer Rules” prepared by Kevin Wark, CALU Tax Advisor Download the report
INFOexchange 2024 vol. 3 is now available!
In our third INFOexchange of 2024 you’ll read: Message from CALU’s Chair of the Board of Directors, Jeff Wilson Government Relations column from the Chair of our Tax Policy and Advocacy Committee, Diane Everett Expert article on “Proposed Relief for Trust Reporting Rules” from Alex Kerslake and Ravi Singh, both from PwC Canada Expert article on “Sale of a Business: Pre-Planning Can Reduce Capital Gains Taxes” from Jamin Chen, BLG Download the report
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
