Commentaries

Commentary: Sections 211-211.1 – Tax on Investment Income of Life Insurers (Part XII.3)

Tax Policy Developments 1977 Budget: The present system of taxation of life insurance companies was introduced in 1969 when, subject to minor exceptions, the industry became liable for a profits tax for the first time. It has taken several years to assess the new tax system for life insurance companies. It is now apparent that major

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Commentary: 55(2)

Budget 2015: Expanded the Scope of 55(2) Tax Avoidance of Corporate Capital Gains (Section 55) The Income Tax Act contains an anti-avoidance rule that generally taxes as capital gains certain otherwise tax-deductible inter-corporate dividends. This rule typically applies where a corporation that is about to dispose of shares of another corporation receives from that other corporation tax-deductible

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