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House Finance Committee releases Report

The House of Commons Standing Committee on Finance (FINA) has now released its report and recommendations arising from its 2017 Pre-budget Consultation Report (click here to view). The Pre-budget Submission made by CALU was mentioned on a number of occasions in the FINA Report, and in response to our submissions relating to section 84.1 of the Income Tax Act, FINA recommended “that the Government of Canada conduct an exhaustive review of the tax treatment of intergenerational transfers of businesses” (Recommendation 30 on page 38 of the Report). The Conservative MPs on the Committee separately supported our submission on long term care by stating that the Income Tax Act should help “Canadians voluntarily save for retirement and long-term care needs, including ... changing the tax treatment of personal insurance for long-term care” [Page 194 of the Report].  

Many thanks to all the members who assisted with the preparation of our 2017 Pre-budget Submission and the development of supporting information, and to Warren Blatt, Chair of the Government Relations Committee, for his able representations when appearing before FINA. Please note that you can view Warren’s comments at the FINA  meeting by clicking here.


CALU Appears at House Finance Committee –
Wednesday, October 26, 2016

CALU appeared before the House of Commons Standing Committee on Finance (FINA) to participate in the Committee`s 2017 pre-budget hearings.

On Wednesday, October 26, 2016, in the time slot between 4:40 p.m.-5:45 p.m. EST, CALU Board member and Chair of the Government Relations Committee Warren Blatt (TO) represented CALU. The appearance took the format of delivering five minute introductory remarks, followed by the opportunity to respond to questions from Committee members.

Click here for a copy of Warren’s speaker notes. 

Click here to view a video clip of Warren's appearance.

Click here to view a question posed to Warren and his response.


CALU 2017 Pre-budget Submission

On June 3, 2016 the House of Commons Standing Committee on Finance launched its pre-budget consultation process, and invited Canadians to participate. Suggestions made by Canadians and the pre-budget report compiled by the Committee will be considered by the Minister of Finance in the development of the 2017 federal budget.

As part of that process, CALU has made a submission to the House Finance Committee renewing our recommendation that the existing federal tax rules in section 84.1 of the Income Tax Act be modified to support the transfer of incorporated small businesses to family members on a tax neutral basis. CALU is also recommending that a federal tax incentive be implemented to encourage Canadians to become more self-sufficient with respect to their long-term health care needs through the purchase of long term care insurance. We have made a request to appear before the Committee to provide more details on our recommendations.

To view a copy of the CALU 2017 Pre-budget Submission please click here.

Below you will find other background information and reports that have either been prepared by CALU or reviewed as part of the development of our submission relating to our recommendations.

Family Business

CALU Resources

Long Term Care

CALU Resources

Industry Resources