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Proposed bill positive news for Family Business Owners

A recent article in the financial post highlights a new bill that has been proposed in the House of Commons.  The proposed bill seeks to level the playing field for the tax implication of selling a business to your family member vs. to a third party.  Currently, a significant deduction from the capital gain is allowed when selling to a third party, but this deduction is not necessarily available when selling to a relative.  The proposed bill could be a welcome change for many family-owned businesses in Canada.  Please see the Financial Post article HERE

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Changes to taxation of life insurance in 2017

Did you know that the taxation of life insurance policies will have a number of changes for new policies issued beginning in 2017?  Have a look at this short video to understand these chaNew Paradigm Aheadnges, and what the new rules could mean for you and your business.

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Benefits of Joint Last-to-Die Life Insurance

Joint Last-to-Die Life Insurance can be a powerful and cost effective tool for estate planning.  If you are wanting to learn more about this type of insurance, and learn whether it might be right for your situation, click here to watch this great video that summarizes Joint Last-to-Die insurance, compares it with traditional single life insurance, and suggests where it is most useful in your estate planning.  We hope you find this educational, and please contact us with any questions you might have on how this could be beneficial in your estate planning!

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Realizing the Value of Permanent Insurance

Your old term insurance policies may be worth more than you thought!  Before you surrender an old term insurance policy that you no longer require, consider the underlying value that the policy may have if it were converted to a permanent policy.  A permanent insurance policy, even with no cash value, often has inherent value to it because of the insured’s age, health status, or the pricing on the policy.

Have a look at this Case Study, to see the value that can be created from a permanent insurance policy.  As always, please contact us if you would like to see how this could work for you!

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