Submissions and Presentations

On May 17, 2018, CALU made a submission to the Senate Standing Committee on National Finance ("Senate Finance Committee") commenting on certain legislative proposals contained in Bill C-74, Budget Implementation Act 2018, No. 1 ("Bill C-74"). In particular, CALU commented on the tax on split income (TOSI) rules and the legislation that will limit access to the small business deduction (SBD) where passive investment income within a Canadian-Controlled Private Corporation (CCPC) exceeds $50,000 in a year (the "passive investment rules"). View the submission

On February 16, 2018, CALU completed its submission to Finance Canada on the draft TOSI legislation, which outlines in more detail these concerns and issues. A copy of the CALU submission can be found here. We continue to support the activities of the Coalition for Small Business Tax Fairness and plan to engage in further dialogue with Finance Canada to discuss our concerns and potential approaches for dealing with them. View the submission

CALU submits observations and recommendations touching upon the lack of proper consultation, the multi-layered and punitive tax results, the negative economic and social impact and resulting tax uncertainty. The submission also contains a more technical discussion of three different proposals and our recommendations. View the submission

CALU submission to the House Finance Committee renewing our recommendation that a federal tax incentive be implemented to encourage Canadians to become more self-sufficient with respect to their long-term health care needs through the purchase of long term care insurance. We have made a request to appear before the Committee to provide more details on our recommendations. View the submission

CALU recently wrote to the Department of Finance (Finance) to comment on Finance's draft legislation released on July 29, 2016 relating to the tax treatment of certain transactions involving insurance owned by partnerships and corporations, which proposals were originally announced in the March 22, 2016 federal budget. View the submission

CALU recently wrote to the Department of Finance to provide details on CALU’s recommendations for transitional rules relating to certain insurance arrangements in place prior to the March 22, 2016 federal budget. CALU also took the opportunity to summarize certain other issues relating to the federal budget that were identified in CALU’s submission of April 29, 2016. View the submission

CALU has made a submission to the House Finance Committee renewing our recommendation that the existing federal tax rules in section 84.1 of the Income Tax Act be modified to support the transfer of incorporated small businesses to family members on a tax neutral basis. CALU is also recommending that a federal tax incentive be implemented to encourage Canadians to become more self-sufficient with respect to their long-term health care needs through the purchase of long term care insurance. We have made a request to appear before the Committee to provide more details on our recommendations. View the submission ...

CALU recently wrote to the Department of Finance to comment on proposed changes contained in the March 22, 2016 federal budget relating to the tax treatment of certain transactions involving life insurance owned by partnerships and corporations. In particular, CALU indicated that is it generally supportive of these proposals as they apply to transactions entered into on or after the budget date. However, CALU expressed concerns with the retroactive application of these rules to insurance arrangements entered into before the budget date, and noted other issues that should be addressed as part of Finance’s review of the rules governing ...

CALU believes it is important that provincial and federal government policies not only encourage the ongoing growth of small businesses, but also support the successful transfer of those businesses to the next generation of owners with tax rules that establish a level playing field for all. View the submission