Canadian Insurance Taxation, 3rd Edition

Canadian Insurance Taxation, 3rd Edition

Canadian income tax laws are extremely complex. For insurers, this complexity is compounded by the distinct nature of the insurance industry. Those involved in financial planning and taxation of insurance companies need to understand the unique tax rules that the industry faces. Canadian Insurance Taxation, 3 rd Edition explains the particular ...

Publisher: LexisNexis Canada
Country: Canada
Format: Hardcover Book
Publication Language: English
ISBN: 9780433462200
Publication Date: 2009-06-30

				Price: $170.00

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Canadian Insurance Taxation, 3^rd Edition explains the particular regulatory requirements for each type of insurer and details the federal and provincial taxation of income from premiums, reserves and investments, and amounts due under sales and excise taxes. Throughout this book, charts and tables describe concepts clearly and efficiently.

This book will help you to:

Identify potential tax problems
Make better business decisions
Be more effective when discussing insurance taxation matters

This book fulfills the need among professionals for a complete yet accessible guide to the intricacies of the insurance taxation field. Thirty-two chapters address the full range of taxation issues specific to insurance companies and policyholders.

Features and Benefits

Explains how to compute taxable income, losses and reserves using a "two-track" structure to provide ready access to the rules as they apply to both life and non-life insurers
Includes over 80 flowcharts and tables clarifying the operation of the various rules
Reflects the existing and proposed tax and accounting rules as of November 28, 2008, along with previous tax regimes where they may still be relevant

New in This Edition

The third edition incorporates all actual and proposed changes in legislation and regulation that have occurred over the last few years
Critical updates to the taxation of investments and the computation of reserves necessitated by the adoption of fair value accounting for financial instruments that insurers must be aware of
Sales and Excise Taxes have been substantially rewritten and includes proposed changes to the Goods and Services Tax/Harmonized Sales Tax legislation on the operation of allocation methods and imported taxable supplies
A new chapter with an overview of Canada's transfer pricing environment providing insights into transfer pricing methodologies available to insurers

Chapter 1: Insurance Corporations
Chapter 2: Taxation of Life Insurers: An Introduction
Chapter 3: Liability for Income Tax
Chapter 4: Income for Tax Purposes — General Rules
Chapter 5: Investment Income
Chapter 6: Reserves
Chapter 7: Investment Income from a Canadian Insurance Business
Chapter 8: Taxable Income and Income Tax
Chapter 9: Federal Capital Tax
Chapter 10: Provincial Capital Tax
Chapter 11: Investment Income Tax
Chapter 12: The Taxation of Life Insurance Policies
Chapter 13: The Taxation of Annuities
Chapter 14: Other Tax Issues for Annuities and Life Insurance Policies
Chapter 15: Taxation of Segregated Funds
Chapter 16: Taxation of Non-life Insurers: An Introduction
Chapter 17: Liability for Income Tax
Chapter 18: Income for Tax Purposes — General Rules
Chapter 19: Reserves
Chapter 20: Investment Income from a Canadian Insurance Business
Chapter 21: Taxable Income and Income Tax
Chapter 22: Federal Capital Tax
Chapter 23: Provincial Capital Tax
Chapter 24: Branch Tax
Chapter 25: Withholding Tax
Chapter 26: Ontario Corporate Minimum Tax
Chapter 27: Provincial Premium Taxes
Chapter 28: Sales and Excise Taxes
Chapter 29: Corporate Reorganizations and Sale of Shares
Chapter 30: Reinsurance
Chapter 31: Accounting for Income Taxes
Chapter 32: Canadian Transfer Pricing for Insurance

PricewaterhouseCoopers LLP; Fred F.J. Borgmann, Jason A. Swales & Jillian M. Welch

Fred Borgmann is the leader of PricewaterhouseCoopers’ Canadian insurance tax practice. He has over 20 years of experience with both Canadian and international tax planning for national and multi-national insurance companies. He has substantial expertise dealing with the Canadian tax consequences to insurance companies arising from acquisitions, dispositions, mergers and other reorganizations.

Jason Swales is a Partner in the insurance tax practice. He specializes in providing Canadian income tax advice for Canadian-based and foreign clients in the financial services industry, including multi-national insurance companies and private equity firms.

Jillian Welch is a Partner in PricewaterhouseCoopers’ financial services tax practice and of Wilson & Partners LLP, a law firm affiliated with PricewaterhouseCoopers. She provides advice to clients on a broad range of tax matters and has particular expertise in the taxation of insurance and investment products for the retail, group and registered plan markets. For many years Jillian Welch has advised clients on tax issues relating to mutual funds and segregated funds, and provided tax advice to investment managers and insurance companies.

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