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tax

News BrokersInsuranceLegislation / Regulation

Would the Liberals hike the industry’s corporate income tax?

August 31, 2021 by Greg Meckbach

Brokers will probably not be directly affected by a Liberal election promise to raise corporate tax rates on insurance companies making over $1 billion a year in profits, the CEO of the national brokerage association suggests. As quoted by The

News InsuranceLegal

How your federal corporate tax reporting rules could change

April 21, 2021 by Greg Meckbach

Some brokerages might be at greater risk of being audited by Canada Revenue Agency or having to file more tax paperwork if measures proposed in Monday’s federal budget come to fruition. The federal government is proposing new requirements for corporations

News InsuranceLegislation / Regulation

Why B.C.’s tax collector tried to burn Mutual Fire for an extra $4.5 million

April 9, 2021 by Greg Meckbach

British Columbia’s income tax commissioner must re-visit a decision to bill Mutual Fire Insurance Company of British Columbia an extra $4.5 million in premium taxes and interest from the 2012 and 2013 taxation years. Mutual Fire appealed the ruling by

News InsuranceLegislation / Regulation

Federal budget narrows scope of taxes on passive and split income

March 2, 2018 Greg Meckbach, Associate Editor

Brokers who are concerned about income tax changes will find “good news” in the recently-released federal budget, a tax expert said Wednesday. Finance Minister Bill Morneau announced this past July several proposals intended to crack down on company owners who

News Earnings / RatingsMarkets / Coverages

Feds tighten tax rules for small businesses and passive income in budget

February 27, 2018 Craig Wong - THE CANADIAN PRESS

OTTAWA – The Liberal government moved to tighten the tax rules for small businesses in the federal budget Tuesday as it fine-tuned the changes that prompted an uproar last year. However, Finance Minister Bill Morneau still faces the challenge of

Feature Legislation / Regulation

Out of Pocket

January 15, 2018 Greg Meckbach, Associate Editor

Brokers could pay more under proposal to tax income sprinkling and passive investments

News Earnings / RatingsInsuranceMarkets / Coverages

Feds looking to tax broker dividend strategy

November 20, 2017 Greg Meckbach, Associate Editor

Brokerage owners who pay their young adult children dividends to help with post-secondary education should “reassess” that strategy in light of proposed tax changes, an accounting expert suggested Monday. Among the proposed changes announced in July by Finance Minister Bill

News InsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

U.S. executives struggling to measure and mitigate strategic risks: survey

June 21, 2016 by Canadian Underwriter

Nearly two-thirds (64%) of executives in the United States see strategic risk as a “highly significant threat” to their organizations compared to other types of risk – including compliance, operational and financial – according to a new survey from independent