Taxation Of Life Insurance Companies

Canadian Taxation of Life Insurance provides an 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 and 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.

This study examines the difficult task of applying income taxation to the life and property and casualty insurance industries.