Questions About Corporate-owned Life Insurance

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What are the tax consequences of transferring a life insurance policy to another corporation (eg from Opco to Holdco)?

The transferring corporation is taxed on the gain (surrender value of policy less the ACB). Most other assets can be transferred on a tax-deferred basis. So, it's best to hold permanent insurance outside an operating company.

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page revision: 0, last edited: 28 Mar 2007 03:54

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