Some of these tax measures were enacted in June 2023, as part of Budget Implementation Act, 2023, No.1 (Bill C-47).

Deputy Prime Minister and Finance Minister Chrystia Freeland released Budget 2023 on March 28, 2023. This issue of CLU Comment will highlight tax measures of special importance to Chartered Life Underwriters and their clients.

Corporate-owned life insurance has become an important tool in meeting the planning goals and objectives of private company shareholders.

Charitable Gift of a Permanent Life Insurance Policy Arising from a Term Conversion - Valuation of Corporate-owned Life Insurance on Immigration/Emigration

Business Tax Measures, Personal Tax Measures

Corporate-Owned Life Insurance — Probate Tax Issues? Determination of Probate Fees/Taxes, CALU Request for Interpretation, Benefits and Contributions for 2022

The Issues, Drilling Down on Bill C-208, Bill C-208 Amendments to Section 84.1, Implications for Small Business Owners and Their Advisors

Recap of General Rules, Tax-Free Rollovers, Transfer to spouse or common-law partner during life, Transfer to spouse or common-law partner at death, Should my client name a successor owner?, Retirement Exclusion, Second-Generation Exclusion, Income Splitting in Years after the Business Ceases to Exist (Sale or Dissolution)

Tax-Free Rollovers, Rollover to a Child, Death and Marriage Breakdown

Tax Implications, Legal Considerations on Dissolution, Steps to Transfer, Consequences in Not Transferring, Provincial Considerations, Properly Valuing Mothers for Insurance, Progress over the Decades, She-cession

Estate Freeze, Refreeze

Tax implications of accessing a life policy's cash value, Transferring a life insurance policy to a shareholder from a corporation

The Window for Tax Reassessments, Using a Tax-free Savings Account as Collateral,

Multiplying The Capital Gains Exemption, Maturing an RRSP

The Unique Nature of a Policy Loan, Be Cautious When Structuring a Charitable Gift, Administrative Leniency is at CRA's Discretion, GRE Designation, and Non-Residents

Non-Deductible Fines and Penalties, Fees Paid to a Power of Attorney, Managing Inherent Risk is a Personal Choice, Summer Accidents Highlight Need for Estate Plans

Business Overhead Insurance, Beware of Rrsp Over-contributions, Rights or Things, Employee Death Benefit

Testamentary Gift Planning, Tax Filing Season: a Look Back and Ahead, Benefits and Contributions for 2019

Spousal Support, Combatting Tax Evasion Through Increased Transparency, Easing the Financial Strain of the Gift-giving Season, Canada/Quebec Pension Plan and Employment Insurance 2019

Total Remuneration Extends Beyond Salary, Canadian Generosity, Corporate Ownership of a Life Insurance Policy