Finance Proposes Amendments for Disposing of an Interest in a Life Insurance Policy

On September 16, 2016, the Department of Finance released proposed amendments to the Income Tax Act (Canada). Contained in that package are a series of proposed amendments to the rules in section 148 for determining the income tax consequences of the disposition of an interest in a life insurance policy.

View the proposed amendments here:

Prepared by: Kyle Lamothe

Kyle is a partner practicing in the firm’s Toronto office. Kyle’s practice focuses on Canadian tax planning for businesses, individuals, and trusts, with a particular emphasis on owner-managed businesses, cross-border issues, high net worth families, and professionals. He advises on… more »