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Canadian Taxation of Life Insurance, 8th Edition

Product details:

Format: Book - softbound
Brand: Carswell
ISBN: L7798-7188
Service #: 42017028
Publication frequency: As needed
Update method: No updating

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Canadian Taxation of Life Insurance, 8th Edition



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Book - softbound
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EXTENSIVE DISCUSSION ON THE TAX TREATMENT OF LIFE INSURANCE AND ESTATE PLANNING STRATEGIES For those who practice in the fields of estate planning and business or personal tax, a clear understanding of current rules for taxation of the life insurance policies and annuity contracts is vital. Canadian Taxation of Life Insurance is a unique and comprehensive reference source that provides inestimable assistance to lawyers, accountants, and financial & insurance advisors in evaluating, planning and maximizing the potential benefits that life insurance products provide. The authors discuss, in detail, the use of life insurance in business and estate planning, including income tax rules applicable to life insurance policies from both a current and historical perspective. Extensive coverage is given to various insurance strategies, their tax consequences in corporate, partnership and personal contexts, as well as the accounting implications associated with these strategies. What's New in the 8th edition: Current to August 1, 2015 the eighth edition includes: The enacted changes to the exempt test and related policyholder tax rules which will be effective January 1, 2017; The final enacted measures relating to the elimination of the tax benefits of 10/8 plans and leveraged insured annuities; The potential impacts of the 2015 Federal budget changes to subsection 55(2) when transferring a life insurance policy as a dividend in kind; Impacts of the enacted changes to the taxation of testamentary trusts and "life interest" trusts applicable January 1, 2016; Enacted changes made to the taxation of charitable gifts on death including gifts by direct designation of life insurance; The proposed rules relating to charitable gifts of proceeds of sale of private company shares or real estate; Updates relating to changes to the US estate tax and an expanded discussion to include US Income tax issues relating to the holding of life insurance by US persons in Canada; Enacted changes to the taxation of prescribed annuity contracts effective January 1, 2017 and measures relating to the testamentary trust rule changes impacting what trusts can hold a prescribed annuity effective January 1, 2016; and Expanded discussions involving charitable donations of segregated funds and corporate ownership of segregated funds. Table of Contents: Chapter 1: The History of Life Insurance Policy Taxation and Changes to Take Effect in 2017 Chapter 2: Life Insurance Products Chapter 3: Taxation of Life Insurance Policies, Dispositions, and Selected Valuation Issues Chapter 4: Leveraged Life Insurance – Borrowing Against a Policy Chapter 5: Personal Life Insurance Needs and Applications Chapter 6: Business Insurance Needs Technical Issues Chapter 7: Business Insurance Needs – Applications Chapter 8: Spilt-Dollar Insurance Arrangements Chapter 9: Trusts and Life Insurance Chapter 10: International Issues Chapter 11: Life Insurance and Partnerships Chapter 12: Insurance and Charitable Giving Chapter 13: History of Annuities and Segregated Funds Chapter 14: Taxation of Annuity Contracts Chapter 15: Deferred Annuities Chapter 16: Planned Giving with Annuities Chapter 17: Insured Annuities Chapter 18: Taxation of Structured Settlements Chapter 19: Segregated Funds