Section 32

Subsection 32(1) - Insurance agents and brokers

Paragraph 32(1)(a)

Administrative Policy

2 April 2013 External T.I. 2013-0475571E5 - Life insurance

In accordance with Destacamento and Demeterio, CRA found several bases on which a self-employed taxpayer's life insurance sales commissions must...

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Paragraph 32(1)(b)

Administrative Policy

20 August 2015 External T.I. 2015-0588871E5 - Taxation of insurance contract commission income

A general insurance broker places professional liability insurance on a "claims-made" basis and the policy is renewed annually. Since the claims...

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Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(m) reserve not available based on potential claims processing 143