September 2016 - Dehoney Financial Group

UPDATE: BC MSP Premium Changes Arriving in 2017

With a bold headline, Strong economy pays dividends, the BC Provincial Government announced on September 15, 2016, that it would be scrapping the proposed 4% BC MSP premium rate increase that it had announced earlier this year.

“B.C.’s strong economic growth and better-than-forecast revenues” are Finance Minister Mike de Jong’s reasons for the government’s decision to scrap the premium increase and to deliver “dividends” to British Columbians.

Who doesn’t benefit from the reversal of the 4% BC MSP premium increase?

As we wrote in April of this year, changes […]

Funding Capital Gains Tax with Life Insurance?

Take advantage of current and favourable CRA rules to fund capital gains tax liabilities.

It has been a long time since major changes were made to life insurance legislation in Canada that negatively impact your ability to fund capital gains tax. That’s all about to change with the introduction of new exempt test rules for life insurance policies. The new legislation reflects current mortality rates, new insurance product design, and heightened requirements for standardization across insurers and products. The new rules replace the current and more favourable rules which remain in place until the end of 2016 […]