CALU Reports
CALU Report – Donation of Private Corporation Shares
Business owners with philanthropic intentions value tax-efficient charitable giving strategies. Read this CALU Report to understand how the use of corporate-owned life insurance to fund a charitable gift improves tax-efficiency and can lead to a legacy of gifting through generations.
CALU Report – The Principal Residence: Income Tax and Probate Considerations
The principal residence is an important asset to consider in most Canadian estate plans. This is not surprising since, for couples who are home owners, their home is not only a place to build their lives together, but also often one of their key investments.
CALU Report – 2020 Finance Roundtable Questions and Responses
On November 18, 2020 CALU held its first ever virtual CALU Finance Roundtable.
CALU Report – Shared Ownership Arrangements: New Planning/New Perspectives – Part 2
This CALU Report is the second in a two-part series entitled Shared Ownership Arrangements – New Planning/New Perspectives.
CALU Report – 2020 CALU CRA Roundtable Questions
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...
CALU Report – Shared Ownership Arrangements – New Planning/New Perspectives
This CALU Report provides a description of shared ownership arrangements, discusses new product applications and related premium sharing issues.
CALU Report – Can the CRA Pursue the Beneficiary of a Life Insurance Policy?
Section 160 of the Income Tax Act (the “Act”) broadens the power of the Canada Revenue Agency (CRA) to collect on income tax debts....
CALU Report – APFF and CLHIA CRA Roundtable Round-Up
Every year the Canada Revenue Agency participates in several Tax Roundtables where it responds to a variety of questions of interest to the insurance and estate planning community. This edition of CALU Report summarizes select questions and responses from the 2018 APFF Conference and 2019 CLHIA Tax Conference and provides additional CALU commentary.
CALU Report – U.S. Reporting Obligations for the Life Insurance Settlement Industry
Life insurance proceeds received on the death of a U.S. life insured are generally not taxable to beneficiaries under the U.S. Internal Revenue Code. Thus, similar to the situation in Canada, life insurance provides a tax-effective way to provide liquidity on the death of a U.S. person...
CALU Report – Common Law Will Revocation Clauses and RRSP/RRIF Beneficiary Designations
Provincial legislation and, to a greater extent, statutory interpretation dictates the effectiveness of RRSP and RRIF beneficiary designations. While common law provincial laws outline the legal requirements for making and revoking beneficiary designations under RRSP and RRIF plans, there are important variations.
CALU Report – Moving to Canada with a Foreign Insurance Policy: A Case Study
This article will specifically address the income tax consequences of owning a life insurance policy acquired in a foreign jurisdiction, where such a policy is held directly by the individual or through a wholly-owned foreign corporation of the individual, and that individual becomes a Canadian resident.
CALU Report – Budget 2018: New Draft Legislation Released & Impact of U.S. Tax Reform on Cross-Border Planning
There are two articles in this latest edition of CALU Report: "Budget 2018 – New Draft Legislation Released" and "Impact of U.S. Tax Reform on Cross-Border Planning"
