New Passive Income Rules
The 2018 federal budget clarified rules around passive income for Canadian Controlled Private Corporations. The threshold for passive income starting $50,000 has now made holding life insurance within the corporation even more important. Advisor.ca has created this article outlining several options for life insurance policies such as holding until death or withdrawing upon retirement. If anything in this article is of interest to you, please let us know and we would be happy to discuss further.