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The anatomy of a gift of life insurance proceeds by direct designation

The anatomy of a gift of life insurance proceeds by direct designation

Understand the requirements of making a donation of life insurance proceeds by direct designation to a charity.
The formation of a life insurance contract – Recent case law

The formation of a life insurance contract – Recent case law

Changes in insurability can impact whether a contract of life insurance exists.
1% decrease in Ontario corporate tax rate – What it means

1% decrease in Ontario corporate tax rate – What it means

Ontario decreased the small business tax rate and decreased the dividend tax credit for non-eligible dividends. For what this means...
CRA guidance for mandatory disclosure rules – Not so honourable mention

CRA guidance for mandatory disclosure rules – Not so honourable mention

The CRA is signalling its displeasure with aggressive planning schemes involving insurance.
Legislative matters – Matter to STEP

Legislative matters – Matter to STEP

Many of the measures we’ve been keeping our eyes on have progressed with the help of STEP.
Invisible at 43: Helping capable next-generation members find their voice without waiting for a crisis to force the conversation

Invisible at 43: Helping capable next-generation members find their voice without waiting for a crisis to force the conversation

When serving a family where the founder is still in charge and the next generation is struggling to be heard, here’s how to help them find their voice.
Life insurance to secure support obligations – Common problems

Life insurance to secure support obligations – Common problems

There is no silver bullet when it comes to structuring life insurance to secure support obligations.
Personal borrowing and corporate owned life insurance – The gory details

Personal borrowing and corporate owned life insurance – The gory details

Personally borrowing against a corporate-owned life insurance policy is not easy.
An update on legislation in progress and draft legislation not yet introduced

An update on legislation in progress and draft legislation not yet introduced

Here is a snapshot of the various legislative measures we’ve had on our radar.
Interest deductibility and GAAR – Singleton planning is still OK

Interest deductibility and GAAR – Singleton planning is still OK

Where a taxpayer restructures borrowings and ownership of assets to meet the direct use test as Singleton did, interest can be deductible and not GAAR-able.
Another CDA rectification case dismissed

Another CDA rectification case dismissed

The CDA calculation is a cumulative formula often over many years. Errors are costly and seeking rectification won’t help.
Too good to be true – Yep

Too good to be true – Yep

The CRA published a Tax tips 2025 Warning about aggressive tax schemes involving insurance products.
2025 CLHIA Roundtable – CDA Anti-avoidance rule considered

2025 CLHIA Roundtable – CDA Anti-avoidance rule considered

A recent CRA roundtable response involved the interaction of the CDA anti-avoidance rule and the rules upon amalgamation where a CDA balance arose from life insurance.
Bill C-15 – Items of interest

Bill C-15 – Items of interest

Bill C-15 contained a couple of measures relating to life insurance of note.
2025 Federal Budget – Not a lot of new news

2025 Federal Budget – Not a lot of new news

Budget 2025 was all quiet on the insurance front.
2025 Pre-budget musings – Is tax reform on the horizon?

2025 Pre-budget musings – Is tax reform on the horizon?

The Federal budget is coming down next week. Is tax reform on the horizon?
Restoring Trust When Relationships Break: From Brokenness to Belonging

Restoring Trust When Relationships Break: From Brokenness to Belonging

In family enterprises, trust is critical - it shapes not only personal relationships but also how resources, legacies, and responsibilities are shared across generations. Learn how families repair broken trust.
Exemptions from the Trust Reporting rules – What is the value of Life insurance?

Exemptions from the Trust Reporting rules – What is the value of Life insurance?

Touching on one issue specific to life insurance and certain exemptions under the trust reporting rules...
Summer reading of the legislative kind

Summer reading of the legislative kind

The August 15, 2025 package of draft legislation addresses some of the tax legislative back log.
Of interest from the OBBBA

Of interest from the OBBBA

The One Big Beautiful Bill Act (OBBA) is law. From an estate planning perspective, the measures relating to the threshold for exemption from US estate tax are of interest to us.
ABOUT THE AUTHOR:

Florence is a past of the Canadian Taxation of Life Insurance, currently a special advisor to the editors and contributor to the current 13th edition and Editor-in-Chief of Insurance Planning, both published by Thomson Reuters. She is a member of the Canadian Tax Foundation, Society of Trust & Estate Practitioners, Estate Planning Council of Toronto, and the Conference for Advanced Life Underwriting. Florence is a frequent speaker and author at these and many other organizations.

To reach Florence, please email florence@tompkinsinsurance.com