Publications and reports

CALU Practice Note – Best practices for insured leveraging programs – Part I (revised)

In November 2022, a Practice Note on insured leveraged programs (Part I) was released to members. Based on member feedback, this revision clarifies some of the discussion in the section entitled “What insurance products are suitable for leverage programs?”. Should you have any questions please contact Kevin Wark (kwark@calu.com).  (Members only) Download now

February 6, 2023|Categories: Publications and reports|

CALU 2022 Year in review

Let's take a look back at CALU's achievements in the big year that was 2022. Check out our latest year in review document for a recap of everything you participated in, or may have missed out on in the past year. Read the document

January 19, 2023|Categories: Publications and reports|

INFOexchange 2022 vol. 4 is now available

INFOexchange 2022 volume 4 is now available. The issue includes a message from our Chair, Kelly Adams on our priorities, membership and preparations for the 2023 AGM, as well as an advocacy update from the Chair of the Government Relations Committee, Kate Pal. Also included are two expert articles authored by Wesley Novotny, Bennett Jones LLP and CALU Tax Advisor, Kevin Wark on "Employee ownership trusts: A new Canadian succession option on the horizon" and "Conflicts of interest". (Members only) Download now

December 15, 2022|Categories: Publications and reports|

CALU Report – Inflation and the impact on CPP and OAS

CALU is pleased to announce the release of the latest CALU Report entitled “Inflation and the impact on CPP and OAS” by CALU member Lea Koiv. This article discusses how the design of the CPP and OAS programs not only helps retirees manage inflation risks, but can also significantly influence when to elect to start benefit payments. It also discusses other important plan features that should be kept in mind when helping clients make the important decision on when to commence CPP and OAS benefit payments. (Members only) Download the report

December 1, 2022|Categories: Publications and reports|

CALU Practice Note – Best practices for insured leveraging programs – Part I

This Practice Note (Part I) will primarily focus on issues relating to marketing leveraged programs, client communications and disclosure, due diligence on lending arrangements and longer-term management issues. A following Practice Note (Part II) will build on previously issued Practice Notes and focus on the key tax issues pertaining to leveraged insurance strategies.The overall objective of this Practice Note (Parts I and II) is to provide guidance to CALU members on how to identify appropriate clients for insured leveraging programs and ensure they have the necessary information/advice so they can make an informed decision before implementation. Each client’s circumstances will ...

November 21, 2022|Categories: Publications and reports|

INFOexchange 2022 vol. 3 is now available

INFOexchange 2022 volume 3 is now available. The issue includes a message from our Chair, Kelly Adams on the latest developments at CALU including preparations for our fall conference and a new mentorship program as well as an advocacy update from the Chair of the Government Relations Committee, Kate Pal. Also included are two expert articles authored by CALU Tax Advisor, Kevin Wark on Recent CRA interpretations of interest and Insurance transfers to children: Tips and traps. (Members only) Download now

October 5, 2022|Categories: Publications and reports|

CALU Report – Update on post-mortem pipeline planning

The Tax Court of Canada (TCC) decision in Robillard v. The Queen is a recent example of the tax uncertainty involving a post-mortem pipeline plan that was challenged by the Canada Revenue Agency (CRA). As discussed in this report by Sanjana Bhatia from Sun Life Financial, there continues to be two main uncertainties for those who wish to implement a pipeline strategy. These are: the appropriate timing of the winding-up of the business owner’s corporation, and the repayment terms of the promissory note (or timing of the redemption of preference shares, depending on how the pipeline strategy was implemented) ...

September 7, 2022|Categories: Publications and reports|

Overview of the FHSA

Budget 2022 announced a new savings account for first time home buyers – the Tax-Free Home Savings Account (FHSA). This is one of several initiatives designed to make housing more affordable for younger Canadians. In effect, the FHSA combines the best features of an RRSP (tax-deductible contributions and tax deferred income) and a TFSA (tax-free withdrawals for a qualifying first home purchase). It is an alternative to the Home Buyers' Plan which allows for the tax-free withdrawal of up to $35,000 from an RRSP to purchase a qualifying first home. However, unlike the HBP, there is no requirement to ...

August 25, 2022|Categories: Publications and reports|

CALU Report – Moving to Canada with a Foreign Insurance Policy: A Case Study (update)

In this February 2019 issue of the CALU Report, it was stated that subsection 70(5.3) provides that for purposes of section 128.1, the FMV of a foreign life insurance owned by a non-resident corporation on the life of shareholder, which corporation subsequently becomes resident in Canada as a consequence of the shareholder becoming a resident of Canada, shall be determined as though the FMV of the life insurance policy on the shareholder’s life was the CSV of the policy immediately prior to immigrating to Canada. However, in a recent CRA technical interpretation provided to CALU, the CRA expressed the ...

August 10, 2022|Categories: Publications and reports|

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