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 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 Letter to Finance Canada re Capital Gains Inclusion
In this letter to the Department of Finance, we share our views and recommendations relating to the proposals in Budget 2024 to increase the inclusion rate for capital gains from one half to two thirds for all taxpayers, with an annual exemption of $250,000 for individuals other than trusts. Download now
CALU Reacts to Budget 2024
CALU’s reaction to Budget 2024 including highlights of the top four measures of greatest interest to leaders in the life insurance and financial advisory industry. Read more
CALU submission to Finance on DRD proposals
CALU writes Finance Canada to communicate our concerns with proposals contained in the 2023 federal budget (Budget 2023) that would deny the dividend received deduction (DRD) for dividends received by life insurance companies on shares that are mark-to-market property. View the submission View the attachment
Budget 2023 – The top three things to know
Here are the top three items of interest to CALU members from the federal government’s Budget 2023 tabled earlier today. A more detailed report on the Budget 2023 measures will be provided tomorrow. Read the document
CALU submission to the Commissioner of Lobbying on the draft Code
CALU submits recommendations to the Commissioner of Lobbying based on the opinion that the current draft version of the Code contains elements that are unworkable, unenforceable and present an overreach specifically with the definitions of close relationships, low-value gifts and political activities. View the submission
CALU advocacy update – 2021 Speech from the Throne
Last week, the Governor General delivered the throne speech to open the 44th parliament and outline the governments agenda. Although the speech was very high level, there were no surprises and it fell closely in line with previous policy statements by this government.
Federal cabinet announced
CALU offers its congratulations to all 38 new and returning federal cabinet ministers. The cabinet was announced by the Prime Minister and sworn in by the Governor General this past Tuesday. Our consultants at Summa Strategies have prepared an analysis of the new cabinet. CALU's Government Relations Committee will be meeting next week to review our outreach strategy with the 44th Parliament.
