Announcements and media releases

Here’s a recap of 2023 including everything you participated in, or may have missed out on in the past year including our year in numbers and in the areas of events and learning, public policy and advocacy and community and engagement. Download now

Ottawa, April 7, 2022 – CALU took note of the various measures included in Budget 2022 of interest to leaders in the life insurance and financial advisory industry – notably in relation to rules to facilitate intergenerational business transfers following the legislative passage of Private Member’s Bill C-208 last June. Budget 2022 announced a consultation process for stakeholders to share their views as to how the existing rules could be strengthened to protect the integrity of the tax system while continuing to facilitate genuine intergenerational business transfers. The government indicated it would bring forward legislation, as necessary to address this ...

On February 4, 2022, the federal government released a package of draft legislation relating to Budget 2021 tax measures, as well as previously announced tax proposals. Tax measures that are of particular interest to CALU members and their clients include: Interest deductibility rules – Budget 2021 proposed tax measures that are intended to limit the deduction of excessive interest and financing expenses by corporations and certain other business entities. There were concerns that these proposals could extend to limit the interest expense deductions of Canadian-controlled private corporations (CCPC). However, there are two carve-outs in the legislation that will result in ...

Bill C-208 is the private member bill intended to facilitate the transfer of small businesses to family members that received Royal Assent June 29, 2021. The Department of Finance has now announced that the federal government plans to introduce legislation that will defer the implementation date of these amendments until January 1, 2022. The passing of this bill is a significant accomplishment in that it finally addresses the existing inequities caused by section 84.1 of the Income Tax Act, which penalized business owners when shares are sold to their children versus to an arm’s-length third party. At the same time, ...

For years CALU has been advocating for a change to section 84.1 of the Income Tax Act, an anti-avoidance rule that applies where owners of a private corporation sell shares to another corporation controlled by family members. On June 22, 2021 that advocacy paid off when the Senate adopted Bill C-208. The final remaining step before the bill becomes law is for it to receive Royal Assent which currently comes from the Chief Justice of Canada. Bill C-208, a private member’s bill which created a limited exemption from section 84.1 on the sale of qualified small business corporation shares, was ...

CALU president and CEO Guy Legault’s exceptional contributions to association leadership and the Canadian association community have been recognized with a CSAE Pinnacle Award. This award celebrates sustained commitment and outstanding contribution to the Canadian Society of Association Executives and to the association sector at large. It’s one of CSAE’s highest levels of recognition. The peer-nominated award reflects Guy’s long list of contributions to the CSAE over three decades, including his time as national board chair, during which he led a major change initiative to transition the association from a chapter to a network model. Guy is also recognized for ...

National Volunteer Week is a time to recognize and celebrate the many contributions made by Canada’s volunteers. CALU has a particularly proud history as a volunteer-driven organization; over 100 members volunteer on CALU’s 18 committees, issue groups and, of course, our board of directors.