Tax corner

Useful advice to help Canadians reduce their tax bills.

The federal budget fiscal response to COVID-19.

Tax consequences of transferring a policy out of a corporation

Exempt life insurance enjoys many tax benefits. The death benefit under an exempt policy is tax-free.

Some notable tax insights that could have widespread influence on Canadian taxpayers’ 2020 returns.

Your clients have worked hard to build their businesses, and now it’s time to consider next steps.

What to do now there is some certainty.

The Canadian demographic landscape is shifting as more Canadians (i.e., baby boomers) approach or navigate their way through retirement.

It’s time to get back to business.

You can’t win ’em all when it comes to investing. Sometimes an investment doesn’t pan out, and you end up in a loss position.

Many insurance advisors are familiar with the taxation of life insurance products. But living benefits products – critical illness and disability insurance – may be less familiar.

The Income Tax Act defines many types of investment entities or structures for tax purposes, including mutual fund trusts (MFTs), mutual fund corporations (MFCs) and segregated fund contracts. A noticeable omission is the exchange‑traded fund (ETF). But this does not mean that an ETF is a tax‑free entity.

If you are looking for additional retirement income flexibility, making full use of the maximum withdrawal limits can allow you to unlock some of these locked-in funds without losing the benefit of tax-sheltered investment growth.