Tax Bytes

This publication examines a revised circular from the Canada Revenue Agency (CRA) that expands the circumstances in which it may apply third-party penalties, and the potential implications for those promoting tax planning strategies that appear to offer certain advantages to taxpayers. Download now

This Tax Byte discusses a recent Ontario Supreme Court decision – Kunka Estate v. Giasson – which confirmed that beneficiary designations on registered plans (such as TFSAs and RRIFs) are testamentary dispositions not subject to the presumption of a resulting trust. The Court rejected the controversial 2020 Calmusky v. Calmusky ruling which had sent tremors through the insurance and estate planning community in Ontario. The publication concludes with CALU’s advice to advisors in dealing with matters involving the presumption of resulting trust, and an alternate way to provide certainty for estate planners and their clients. Download now ...

This Tax Byte highlights items of interest to CALU members from Bill C-31, A second Act to implement certain provisions of the budget tabled in Parliament on November 4, 2025, which was introduced in the House of Commons on May 6, 2026. The legislation implements measures announced in Budget 2025, as well as technical tax changes included in draft legislation released in August 2024 and August 2025. Download now

This publication discusses the impact of recent changes to the general anti-avoidance rule (GAAR) on Singleton planning arrangements. While concerns have been raised in the tax community that Singleton arrangements might be challenged by the Canada Revenue Agency (CRA) in the future, a recent technical interpretation appears to deal with this concern. Download now

This Tax Byte discusses a recent court decision involving the Keystone corporation that paid an excess capital dividend to its individual shareholders. The decision reinforces the need for owners of private corporations (and their tax advisors) to properly determine their capital dividend account (CDA) balance before the payment of any capital dividends. Download now

This publication focusses on a recent “Tax Tip” from the Canada Revenue Agency (CRA) on the use of certain financial arrangements involving critical illness insurance that may be designed to avoid paying taxes. It discusses CALU’s work on this issue and provides advice to those with clients who have participated in (or may be contemplating) this type of arrangement. Download now

This Tax Byte provides a summary of tax measures that are – and are not – included in the federal government’s Budget 2025 Implementation Act, No. 1 introduced on November 18, 2025. Download now

CALU’s reaction to Budget 2025 including highlights of particular interest to leaders in the life insurance and financial advisory industry. Download now

This “Tax Byte” discusses a recent Canada Revenue Agency (CRA) technical interpretation on the taxable benefit issues that can arise where supplemental health benefits are offered to a limited group of senior employees/shareholders. Download now

Read a brief overview of the draft legislation recently released by Finance Canada for consultation including the following measures: Capital gains rollover Employee Ownership Trusts Trust reporting The publication also provides an update on outstanding tax legislation. Download now