Canada’s key financial advisors can turn to an updated single reference tool for comprehensive information on how taxation of life insurance can affect personal and business financial planning.
A third edition of the softcover book, Canadian Taxation of Life Insurance, first published in 2002 by Canada’s leading specialized information publishing house, Toronto-based Carswell, is now available through Carswell’s Web site at www.carswell.com.
“We know the technical rules about life insurance can be confusing, even for professionals,” says Florence Marino, Assistant Vice President, Tax & Estate Planning Group, Manulife Financial. “Our goal with this book is to provide analysis and commentary on the Canadian tax rules for life insurance products and life insurance-based planning strategies.”
“Professional advisors play an important role in helping Canadians make better financial decisions and this reference book is designed to help them further understand the implications of integrating life insurance and annuity contracts into client tax, estate and business planning,” added co-editor Joel Cuperfain. Members of Manulife’s Tax and Estate Planning Group are key contributors to the book, which is available in English.
The 2006 edition includes:
Analysis of all relevant CRA technical interpretations, including comments on product features like Joint last-to-die with account value on first death and transfers of life insurance policies
Commentary on the proposed reasonable expectation of profit rules, particularly in the context of leveraged life insurance strategies
Analysis of the July 2005 Technical Bill in relation to foreign life insurance policies
Manulife has 17 specialists – primarily lawyers and accountants – in the Tax and Estate Planning Group, based in various locations in Canada. The group’s mandate is to assist advisors to develop insurance solutions for their clients seeking tax-advantaged wealth accumulation and protection.
About Carswell
Carswell (www.carswell.com) is Canada's leading provider of specialized information and electronic research solutions to the legal, tax, finance, accounting and human resources markets. Headquartered in Toronto, ON, Carswell provides integrated information in a range of formats, including books, loose-leaf services, journals, newsletters, CD-ROMS and online. Carswell is a business within The Thomson Corporation.
About The Thomson Corporation
The Thomson Corporation, with 2005 revenues of approximately $8.7 billion, is a leading provider of integrated information solutions to business and professional markets worldwide. The Corporation's common shares are listed on the Toronto and London stock exchanges. For more information, visit The Thomson Corporation at www.thomson.com.
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$372 billion (US$319 billion) as at December 31, 2005.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.
For more information, please contact:
Tom Nunn
Manulife Financial
519.594.8578
tom_nunn@manulife.com