EY’s Guide to the Taxation of Insurance Corporations in Canada is an easy-to-use reference guide designed to assist Canadian tax professionals in understanding the main aspects of the Canadian federal and provincial corporate taxation of insurance corporations.
This guide provides commentary on the relevant Canadian corporate tax legislation as of March 31, 2015, and reflects judicial decisions and our understanding of the current administrative policies and assessing practices as published by the Canadian tax authorities as of that date. The commentary is cross-referenced to the relevant legislation, court cases, and administrative material. Examples that illustrate the application of the tax rules are provided.
Any proposed legislation or regulations particular to the taxation of insurance corporations that were released by the federal or provincial governments on or before March 31, 2015, but not enacted or promulgated as of that date are discussed. However, this guide does not provide a history of the relevant amendments that have been made to the legislation or regulations discussed in this guide.
A number of the tax rules that are of specific application to insurers are designed to deal with the implications of Canadian generally accepted accounting principles on the determination of profit. For this reason, the relevant accounting rules are discussed in certain chapters in order to assist the reader in understanding the taxation of these corporations.
Store entry revised: October 2015
Publication Date: November 2015
Number of Pages: 650