The Lawyer's Daily is now Law360 Canada. Click here to learn more.

Story image

Deducting life insurance costs: Why opportunity may be overlooked

Tuesday, January 26, 2021 @ 12:42 PM | By Dale Barrett and Simon Townsend

In part one, we discussed paragraph 20(1)(e.2) in the Income Tax Act (the Act), which allows an individual or business to deduct the reasonable cost of life insurance in the event...