December 2018

Transfers of Property or Ownership: Notes on the current tax situation

This article was generously provided by Paulo Fonseca, Business Development Consultant, Financial Horizons Group, Quebec Region.

 

Financial Horizons Group receives applications for the transfer of life insurance properties or policyholders on a daily basis. These applications used to be relatively straightforward and, for some policyholders, positive transactions. Although that might still be the case today for some, the situation has changed, especially with respect to tax rules.