A company can own and be the beneficiary of life insurance. There are many reasons that a corporation might own life insurance: key person, loan security, buy/sell arrangements, shareholder protection. In addition, we often use insurance in the holding or investment companies of business owners to achieve personal goals such as the payment of capital gains taxes owing upon death.
The Liberal Government’s Federal Budget was delivered by Finance Minister, Bill Morneau, on February 27, 2018. There had been much concern and speculation about the direction the budget would take with respect to the taxation of private corporations. This was…
Many business owners understand the important role that life insurance plays in effective corporate planning. Whether it is the funding of a shareholders’ agreement, life insuring corporate debt, or protecting against loss from the death of a key employee, life…
If you are the owner of a private corporation you should be concerned about the commentary that is coming from the Department of Finance. In the Federal Budget of March 2017, Finance expressed their concern that private corporations were being…