Over the past couple of weeks, a lot has been written about Finance Minister Bill Morneau’s proposal to fix the perceived unfairness in the way that private-business owners, family businesses, and incorporated professionals pay tax. While the proposal was not a surprise, it was the scope of the changes that many found alarming. In the […]
Category Archives: Income Tax Rules
Income Tax Rules, Life Insurance, News, Tax-Saving Solutions
Despite taxation changes in 2017, life insurance products remain competitive.
In a previous article on the changes to the taxation of life insurance, we speculated on what insurers might do to their products to keep them competitive in the 2017 tax environment. And while the changes were significant, we had every confidence in the actuaries that they would develop their products to provide value to […]
UPDATE: Trudeau says that his government will not impose a tax on health and dental benefits. Global News reported that, during yesterday’s question period in the House of Commons, Prime Minister Justin Trudeau finally answered the question he’s been avoiding for weeks. When asked by Official Opposition Leader Rona Ambrose about whether his government would ask Canadians […]
Income Tax Rules, Life Insurance
Save Tax Before Life Insurance Tax Rules Change. Time is running out.
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. […]