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 Special Report: Federal Budget 2024
Please find our latest CALU Special Report which discusses measures of greatest interest to our members and their clients from the tabling of the federal Budget 2024, Fairness for Every Generation, earlier today. We extend our thanks to Kevin Wark and Angela Ross, CALU's tax advisors, for their work in preparing this summary. Read the report
CALU Special Report: Federal budget 2023
This Special Report highlights measures of greatest interest to our members and their clients from the tabling of the federal budget 2023 yesterday. We extend our thanks to Kevin Wark and Angela Ross, CALU's tax advisors, for their work in preparing this summary. (Members only) Download the report
CALU Special Report: Federal Budget 2022
Finance Minister Chrystia Freeland tabled the Liberal government’s 2022 budget yesterday. Budget 2022, A Plan to Grow Our Economy and Make Life More Affordable, was a departure from the era of massive stimulus spending for COVID-19 measures, while attempting to maintain key Liberal tax and social policy themes and introducing several new initiatives to reflect current challenges such as housing and defence. This CALU Special Report highlights proposed government initiatives and tax proposals of greatest interest to our members and their clients. We extend our thanks to Kevin Wark and Angela Ross, CALU's tax advisors, for their work in ...
CALU Special Report – Valuing corporate owned life insurance: A new twist
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.
CALU Special Report – Budget 2021: Government moves forward with its post-pandemic vision for Canada
On April 19, 2021, Finance Minister Freeland tabled her first federal budget (“Budget 2021”), entitled “A Recovery Plan for Jobs, Growth, and Resilience.”
CALU Special Report – Detailed Analysis of Revised Income Sprinkling (TOSI) Rules
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.
CALU Special Report – Finance Consultation on the Taxation of Private Corporations
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.
CALU Special Report – New Back-to-Back Shareholder Loan Rules – Impact on Collateral Insurance Arrangements
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.
CALU Special Report – Genetic Testing Bill S-201
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.
