Take advantage of current CRA rules to save tax, and maximize wealth and cash flow. It’s been a long time since major changes were made to life insurance legislation in Canada that negatively impact your ability to save tax. That’s all about to change with the introduction of new exempt test rules for life insurance policies. […]
Yearly Archives: 2016
Income Tax Rules, Life Insurance, Tax-Saving Solutions
Time Frame Shortens on Life Insurance Tax Saving Opportunity.
29
Jun
Jun
Get your application in before October 1, 2016 insurer warns. Last week, Industrial Alliance announced that any life insurance application submitted after October 1, 2016 would be based on their new 2017 product. This news is not unexpected. With the introduction of less favourable tax rules for certain life insurance products coming into effect January 1, 2017, […]
30
May
May
Rolling the dice It’s difficult to begin an article about the need for Critical Illness (CI) without showing an alarming statistic about the incidence of serious or life-threatening illness among Canadians. The reason? Statistics tend to be accepted as FACT and, at least to some degree, resistant to emotional arguments. In the case of Critical […]
25
Apr
Apr
On February 16, 2016 British Columbia’s Ministry of Finance announced upcoming changes to BC Medical Services Plan (MSP) premiums. These changes take effect January 1, 2017. As the government’s backgrounder suggests, the upcoming changes are designed to benefit single parent and low-income families. All children will be exempt from MSP premiums and the new premium […]