Critical illness policies can be transferred free of capital gains tax

A corporate owner of a critical illness insurance policy can transfer it free of capital gains tax as insurance policies are excluded from capital gains treatment and there is no provision explicitly taxing such a policy’s disposition.

Neal Armstrong. Summary and translation of 2015-0588941C6 F under 9 October 2015 APFF Roundtable on Financial Strategies and Instruments, Q. 1.