CALU request on PHSP Limits under Section 20.01 and 144.1 of the Income Tax Act
CALU submission to the Department of Finance to consider an increase in the deduction permitted under section 20.01 of the Income Tax Act for sole proprietors and partners in respect of premiums or contributions to a private health services plan.
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
Pre-budget consultations in advance of the 2022 federal budget (update)
CALU submission to the Department of Finance with recommendations to best support economic growth, make life more affordable and build an even stronger economy for the future. View the submission
CALU submission to consultation on the Underused Housing Tax
CALU comments to the Department of Finance on its consultation relating to the underused housing tax announced in Budget 2021. View the submission
CALU’s updated recommendations on section 84.1
CALU members will remember the enactment of Bill C-208 back in June to amend section 84.1 in regards to fair taxation of family business succession, after which Finance Canada announced its intention to introduce further amendments to better accommodate genuine intergenerational business transfers while still protecting against potential tax abuse. CALU volunteers and staff have taken the pro-active step of reviewing and updating our recommendations and submitting those to Finance. View the submission
CALU submission on Proposed Amendments to Section 84.1 to Permit Intergenerational Transfers
CALU comments to the Department of Finance on recent developments, including the recent enactment of Bill C‐208 and the subsequent Finance Canada media releases, as well as the growing experience with the exception to the Quebec Taxation Act rules that are the equivalent to section 84.1.
CALU request for comfort letter relating to the definition of the capital dividend account
CALU request for comfort letter with respect to amending the definition “capital dividend account” in subsection 89(1) of the Income Tax Act (Canada). View the submission
Pre-budget consultations in advance of the 2022 federal budget
CALU submission to the House of Commons Standing Committee on Finance with recommendations based on our public policy priorities.
Submission on draft legislation governing ELHTs
CALU provided further input to the Department of Finance, regarding draft legislation contained in the Budget Implementation Act 2021, governing Employee Life and Health Trusts (ELHTs). This submission, which was prepared by Kevin Wark, Tax Advisor, and Robert McCullagh, Secretary-Treasurer, on behalf of the Health and Welfare Trust (HWT) Task Force, seeks to clarify one interpretive issue, obtain indexing of the $2,500 PHSP limit in the future, and obtain another year extension from CRA for existing HWTs. View the submission
CALU submission on draft legislation governing ELHTs
In this submission CALU will comment specifically on modifications to the “25%/75%” test for key employees so it will be determined at the trust (plan) level; changes that permit up to $2,500 for funding the costs of private health services plans (PHSPs) for key employees and family members; and other matters relating to the provision of health and welfare benefits for employees of small businesses.
