Please find our latest CALU Special Report which discusses ...

This Special Report highlights measures of greatest interest to ...

Finance Minister Chrystia Freeland tabled the Liberal government’s 2022 ...

In this CALU Special Report, Valuing corporate owned life insurance – A new twist, Kevin Wark, LLB, CLU, TEP, Tax Advisor, CALU takes a look into the valuation of corporate-owned life insurance in determining Ontario estate administration taxes.

On April 19, 2021, Finance Minister Freeland tabled her first federal budget (“Budget 2021”), entitled “A Recovery Plan for Jobs, Growth, and Resilience.”

This CALU Special Report provides a more detailed discussion on the application of the tax on split income (TOSI) rules and the most significant changes from the rules outlined in the July 2017 proposals.

On July 18, 2017, the Department of Finance released a consultation paper and draft legislation that will significantly and negatively impact the tax and succession planning arrangements of many shareholders of private corporations. CALU is very concerned with this legislation, and believes that if these proposals are enacted as described in the consultation paper it will send a very negative message that will stunt the growth of the small business sector.

The rules in subsection 15(2) of the Income Tax Act operate to preclude the use of loans to shareholders to distribute corporate capital on a tax-free basis, by including the amount of the loan in the shareholder's income.

Bill S-201 is a private members bill that will restrict employers and service/product providers from requiring an individual to either undergo a genetic test, or provide the results of genetic testing.