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加拿大税务居民保险税务问题
CanadaLife - How participatinglife insurance works for you
What’s participating life insurance?
Participating life insurance has a number of key features:
First and foremost, it’s life insurance.
When you die, your family, business, estate or charity receives the insurance payout (death benefit).It’s yours for life.
Whatever amount of base life insurance you buy is guaranteed to stay in effect for your lifetime. And your premium payments won’t go up, no matter your age.It helps you grow your wealth.
Over time, your life insurance policy builds cash value. You have guaranteed access to these funds, which you can use in many ways during your lifetime.It has tax advantages.
Your policy’s cash value grows tax-free while inside the policy, subject to government limits. When you die, the people and organizations you’ve named receive the payout tax-free.It can give you potential dividends unique to participating life insurance.
You can choose how to use these dividends. You can buy additional insurance coverage, which may increase your cash value. You can reduce (or even stop) out-of-pocket premium payments. Or, you can take your dividends as cash.It offers flexibility.
We know everyone’s situation is different. That’s why with participating life insurance you get many options you can customize based on your needs.It can be used for a policy loan.
You can borrow, with interest, backed by your policy’s cash value.It helps you protect your loved ones.
You can buy participating life insurance on yourself or on others.
How can participating life insurance work for you?
Create or protect your legacy
Create an instant legacy, guaranteed from the very first day.
This is the foundation of your financial security. It helps protect those you love and those who depend on you. The person, people or organization you choose receive tax-free money when you die.
Show you care for the people and organizations that are special to you.
The payout can go directly to the people and organizations you name, rather than going through what can be a long, public probate process. Depending on the rules in your province, you can avoid delays and estate fees and keep it private.
Help your estate pay taxes.
If the payout is going to your estate, it can help cover taxes so more remains in your estate (for example, a cottage may not have to be sold to pay taxes).
Build your wealth and lower your taxes
Build an asset that’s different from investments and isn’t taxed like one.
With some types of investments, growth can be lost along the way because of income tax. With participating life insurance, you don’t pay tax as your cash value grows in your policy (within tax limits). But if you withdraw or borrow against your cash value, or transfer ownership, you may have to pay tax.
Create an asset you can access at any time, for any reason.
You never know what the future will bring, or when. With participating life insurance, you create a dependable asset that gives you the flexibility you need, whether it’s for:
- An unexpected expense or loss
- A family or business emerggency
- A sudden opportunity
Create a source of income during your lifetime.
Life insurance is useful for your estate and retirement planning. You can use your policy’s cash value to supplement your retirement income or help cover unexpected expenses.
Build value you can depend on in up and down markets.
If you’re looking to grow your wealth, participating life insurance is a great option because it’s a stable, low-risk asset for your portfolio. Your policy’s cash value is guaranteed to grow. This cash value isn’t affected by future market changes. Market changes can affect your dividends. If you use your dividends to buy additional coverage, that coverage may have cash value, which is guaranteed.
Is life insurance taxable in Canada?
Life insurance proceeds are typically tax-free when paid out to beneficiaries. However, there are exceptions, mainly when no beneficiary is named, and the money goes to an estate.
Additionally, premiums paid for personal life insurance policies are generally not tax-deductible.In Canada, the cash surrender value of a life insurance policy is generally not taxable. This is only the case if the total amount received does not exceed the total premiums paid. If the cash surrender value is higher than the premiums paid, the excess amount is subject to taxes as income.
How Inheritance Works in Canada
There is no gift tax in Canada, so living inheritances are not taxed. It is possible that the grantor will pay capital gains tax on the disposition of the assets, though.
In short, no. Canada doesn’t have an inheritance tax (sometimes called a “death tax”). This does not mean that there are no taxes due, though. The Canada Revenue Agency (CRA) will instead tax the estate instead of the beneficiary.
The executor must submit a final tax return(最终纳税申报) for the deceased. The estate pays taxes on both income and capital gains earned. Taxes are calculated as if the deceased’s assets were sold on their date of death – also known as ‘deemed disposition.“视同出售”’
In some cases, this might trigger sizable capital gains. From there, assets are distributed among the estate beneficiaries, with no taxes due by the recipients.
企业家需要了解的有关企业继任计划的知识
加拿大没有遗产税，但在一个人死亡时确实需要缴纳一些几乎同样昂贵的税费，被称为“视同出售”。视同出售是我们所得税法中的一种机制，它会根据您在去世时持有的任何应税资产的公平市场价值触发资本增值税。如果您将资产留给配偶或配偶遗嘱信托，则允许将免税资产转移给生者。但是，当您的配偶过世时，“视同出售”无法避免。
这种“死亡税”以及遗嘱验证手续（因省而异）可能会在您过世之前作为您遗产规划的一部分予以考虑。还必须记住，如果您在去世时拥有海外资产（例如佛罗里达州的房屋），您的遗产在美国等其他国家可能仍会面临遗产税，务必仔细考虑这一点。
加拿大的三大避税理财工具各有什么独特性？
加拿大只有三种完全避税的理财工具，即TFSA（免税账户）、Principal Residence（主要住房）和Insurance（保险产品）。
一．免税账户（TFSA）
从2019年开始，每一个18岁以上的成年人每年都有$6000的额度可以放进这个账户里进行储蓄或投资（2016-2018为$5500/年）。
虽然放进去的本金本身并不能抵税或免税，但在TFSA里面的投资所产生的回报收益却不用缴税，任何时候从TFSA里面将钱取出来使用，都不需要为其本金和回报增值而报税和缴税。
TFSA的额度可以累积，即当年没有使用的额度，可以被累积起来留作将来一并使用。
例如，假如你2017和2018年都没有往TFSA里面存钱，那么，您在2019年就可一次性存入$1.7万。
二．主要住房（Principal Residence）
加拿大税法规定，每一个加拿大的税务居民，在全球范围内可以有一套房子作为其主要住宅而享受免税待遇。
这套主要住宅的增值是完全免税的，将来将其出售变现不需要缴交任何增值税。
三．保险产品（Insurance）
正如大家所熟知的一样，加拿大的保险产品，包括人寿保险、重病保险、伤残保险和长期护理保险等的赔偿金都是完全免税的，正是因为这一独特的免税优势和和更独特的保障功能，才使得保险产品成为一种最有效的家庭保障手段和财富传承工具。