Canadian dealers are expected to co-operate with foreign securities regulators in their efforts to govern their markets
Whirlpool baths and hardwood floors no longer qualify as medical expenses
An initial “thumbs up” from the federal government on a tax scheme doesn’t necessarily mean the decision is carved in stone
Advisors consider ethics highly important; firms take compliance “very seriously”
By the end of may, the first privately owned Canadian bank plans to be in the loan business — the car loan business.General Bank of Canada plans to become a niche bank, offering loans at rates that are competitive with the major banks. “We haven’t lent our first dollar yet, but we intend to be […]
The lack of clarity from Ottawa regarding the tax treatment of critical illness insurance with return-of-premium options can be particularly problematic for advisors who sell group plans. Advisors would like to know how they can safely structure the group products.The federal Income Tax Act does not contain any mention of critical illness insurance. The confusion […]
The insurance industry is continuing to lobby the federal Department of Finance for clarification of the tax treatment of critical illness insurance return-of-premium options. The problem has arisen because federal Income Tax Act provisions dealing with life insurance have not been amended to cover CI insurance since the product was introduced in Canada more than […]
Standard Life employees lose appeal, hit with higher judgment for taking wrongful commissions
Federal Court of Appeal says CRA cannot get at donor-clients by auditing the promoter’s donor list. But the pursuit may not be over
When a client and an insurer settle a dispute for unpaid disability benefits, the amount paid to cover past benefits will be taxable, the Supreme Court of Canada has decided.Advisors can now guide disabled clients who are embroiled in disputes with their insurers, knowing how insurance litigation settlements will be taxed. Advisors should tell clients […]