Dealing with Private Company Shares at Death; Post-mortem and Insurance Planning (Part I – revised)
This publication updates a CALU Report published in March 2025 to reflect the cancellation of the proposed increase in the capital gains inclusion rate from one-half to two-thirds provided in Budget 2024. This CALU Report (as updated) is part of a series of two publications on post-mortem tax planning for individuals who own private company shares at death and the benefits of corporate-owned life insurance. It discusses the tax implications of an individual who owns common shares of an investment company, while Part II which was published in June 2025 discusses the situation of an individual who owns fixed-value ...
Dealing with Private Company Shares at Death; Post-mortem and Insurance Planning (Part II)
This CALU Report is the second of our two-part series on post mortem tax planning for individuals who own private company shares at death and the benefits of corporate-owned life insurance. Written by Hemal Balsara and Jeannie Lim, the publication discusses the situation of an individual shareholder who owns fixed-value preferred shares of an operating company including the tax consequences arising from three planning scenarios. Part I of this CALU deals with an individual who owns common shares of an investment corporation at death. It was originally published in March 2025 and updated in July 2025 to reflect the ...
Dealing with Private Company Shares at Death; Post-mortem and Insurance Planning (Part I)
This CALU Report by Jeannie Lim and Hemal Balsara is the first of a two-part series dealing with post-mortem tax planning for an individual who owns private company shares at death. This publication deals with an individual who owns common shares of an investment company at death while Part II will address the ownership of fixed-value preferred shares of an operating company. It updates a 2009 CALU Report on the same subject considering several significant tax changes since that time. We extend our thanks to CALU’s Tax Advisor, Kevin Wark and CALU Members and Associate Members Stuart Dollar, Florence ...
AMT Update: Legislation Enacted and Proposed Amendments
In an update from our September 2023 CALU Report, this publication discusses recently enacted changes to the Alternative Minimum Tax (AMT) that will apply starting in the 2024 tax year and additional technical amendments proposed in August 2024 draft legislation. The CALU Report also addresses related planning implications for high-income Canadians. We extend our thanks to Will Anderson from PwC for his work on this publication. Download Now
CALU Report: Exploring the Canadian Entrepreneurs’ Incentive
Kenneth Keung and Kevin Wark explain that draft legislation on the Canadian Entrepreneurs’ Incentive released in August is improved from the original proposal in Budget 2024, but concerns remain that a significant number of small business owners will not be eligible for the deduction intended to help offset the impact of the increase in the capital gains inclusion rate to 66.67%. Download Now
CALU Report – Employee Ownership Trusts
This CALU Report by Susan Johnson and Kevin Wark provides an overview of the legislative history for EOTs, the requirements for a trust to qualify as an EOT and the new “super exemption” that is now included in Bill C-69 currently before Parliament. Download the report
CALU Report – The tax treatment of FHSAs on death
This CALU Report summarizes the tax treatment of funds held in a First Home Savings Account (FHSA) on the death of the holder under various scenarios. Download now
CALU Report – Business transfer rules changing in 2024
In this CALU report, Jason Lau and Kenneth Keung from Moodys Tax Law review the new intergenerational business transfer rules relating to section 84.1 of the Income Tax Act that are expected to take effect in 2024. (Members only) Download now
CALU Report – AMT update: New legislation released
This CALU Report on the Alternative Minimum Tax (AMT) updates a previous report and includes a review of the key rules as modified by the August 2023 draft legislation from the Department of Finance. (Members only) Download now
CALU Report – Insurance trusts
A life insurance trust is an effective vehicle for distributing life insurance proceeds in a way that meets the particular needs of both the insured and beneficiaries, with the proceeds benefiting from creditor protection and probate avoidance. In this CALU Report Dianna Flannery reviews the circumstances where a life insurance trust may be used, how to properly establish a life interest trust, as well as related tax and other planning considerations. (Members only) Download the report
