All Articles – Page 4 – Tompkins Insurance

All Articles Business Succession EOTs Life Insurance Tax Trusts

July 31, 2024

Legislative loose ends

For an update on enacted tax legislation and some of the loose ends we’ve been following.

Florence Marino

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All Articles Life Insurance Tax Personal Ownership

July 17, 2024

Roll-over of life insurance to a child – it’s a thing!

For a primer on the ins and outs of the rollover for transfers of a life insurance policy to a child.

Florence Marino

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All Articles Capital Dividend Account Capital Gains Capital Loss Carry Back Planning Corporate Ownership Pipeline Post-Mortem Planning

July 3, 2024

Post-mortem planning – Some updates

For an update on recent post-mortem planning items and a reminder that life insurance can fund tax liabilities arising in respect of owning private company shares on death.

Florence Marino

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All Articles Capital Dividend Account Capital Gains Capital Loss Carry Back Planning Corporate Ownership Pipeline Post-Mortem Planning

June 25, 2024

Capital gains inclusion rate details – Thinking about the long term

The details of the capital gains inclusion rate increase are out. No big surprises. Think beyond June 25 and asses the long term impacts. Your clients might need more insurance.

Florence Marino

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All Articles Capital Dividend Account Capital Gains Corporate Ownership

May 17, 2024

The increased capital gains inclusion rate – Quantifying the hit

The proposed new capital gains inclusion rate will result in a difference of 8.56 percentage points. Is the actual impact 8.56% or is it 32%?

Paul Tompkins

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All Articles Capital Dividend Account Life Insurance Tax

May 1, 2024

Alternative minimum tax – Where are we now?

Life insurance is a unique asset that has many favourable tax characteristics. In general, these characteristics are not in and of themselves a problem for AMT.

Florence Marino

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All Articles Capital Dividend Account Capital Gains Capital Loss Carry Back Planning Corporate Ownership Pipeline Post-Mortem Planning

April 18, 2024

2024 Federal budget – Reflections on the increase to the capital gains inclusion rate through an insurance lens

By now you’ve read the 2024 Federal Budget summaries and digested some of the impacts. Here is what we think about the capital gains inclusion rate changes, looking through a distinctly insurance-focused lens.

Florence Marino

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All Articles Life Insurance Tax Trusts

April 10, 2024

Roll-out of life insurance policy from a trust – Undisturbed

Prior CRA commentary regarding the roll out to a capital beneficiary of life insurance at cost is undisturbed by recent commentary relating to the transfer of a life insurance policy as a dividend in-kind via…

Florence Marino 0

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All Articles Anti-Avoidance Business Succession Estate Freezes

March 27, 2024

The new GAAR is already getting warmer

More good news from the CRA on the new GAAR. Common tax and estate planning transactions that were not GAAR-able before are not going to be GAAR-able now.

Florence Marino 0

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All Articles Anti-Avoidance Capital Dividend Account Corporate Ownership Life Insurance Tax Pipeline

March 13, 2024

Post-mortem pipelines under the new GAAR are OK

The CRA has confirmed that it does not see post-mortem pipeline planning as a misuse or abuse under the new GAAR and will continue to issue favourable rulings. Life insurance in conjunction with post-mortem pipeline…

Florence Marino

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All Articles49

Legislative loose ends

Roll-over of life insurance to a child – it’s a thing!

Post-mortem planning – Some updates

Capital gains inclusion rate details – Thinking about the long term

The increased capital gains inclusion rate – Quantifying the hit

Alternative minimum tax – Where are we now?

2024 Federal budget – Reflections on the increase to the capital gains inclusion rate through an insurance lens

Roll-out of life insurance policy from a trust – Undisturbed

The new GAAR is already getting warmer

Post-mortem pipelines under the new GAAR are OK

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