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| July 2016 |
| Get the most out of your life insurance policies before 2017! |
| Sylvain Campeau, CPA, CA, is a tax partner in the Ottawa/Gatineau offices of Collins Barrow. |
| Ilham Fuad, is an accountant in the Ottawa/Gatineau offices of Collins Barrow. |
| Life insurance rules have remained relatively intact since 1982, but that’s about to change. Starting January 1, 2017, new income tax legislation will come into effect that will change some taxation aspects of life insurance policies. These modifications will impact taxpayers’ estate planning, and more specifically, cases where life insurance policies are purchased through a corporation. |
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| Collins Barrow periodically publishes Tax Alert for its clients and associates. It is designed to highlight and summarize the continually changing tax and business scene acrossCanada. While Tax Alert suggests general planning ideas, we recommend professional advice always be sought before taking specific planning steps. |
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