Canada’s key financial advisors can turn to an updated single reference tool for comprehensive information on how taxation of life insurance can affect personal and business financial planning.
A third edition of the softcover book, Canadian Taxation of Life Insurance, first published in 2002 by Carswell, is now available through Carswell’s Web site at www.carswell.com.
“We know the technical rules about life insurance can be confusing, even for professionals,” says Florence Marino, assistant vp, tax and estate planning group, Manulife Financial. “Our goal with this book is to provide analysis and commentary on the Canadian tax rules for life insurance products and life insurance-based planning strategies.”
“Professional advisors play an important role in helping Canadians make better financial decisions and this reference book is designed to help them further understand the implications of integrating life insurance and annuity contracts into client tax, estate and business planning,” added co-editor Joel Cuperfain.
The 2006 edition includes:
- Analysis of all relevant CRA technical interpretations, including comments on product features like Joint last-to-die with account value on first death and transfers of life insurance policies;
- Commentary on the proposed reasonable expectation of profit rules, particularly in the context of leveraged life insurance strategies;
- Analysis of the July 2005 Technical Bill in relation to foreign life insurance policies Important tool for advisors.
Manulife has 17 specialists – primarily lawyers and accountants – in the tax and estate planning group, based in various locations in Canada. The group’s mandate is to assist advisors to develop insurance solutions for their clients seeking tax-advantaged wealth accumulation and protection.