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...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(a) | 140 | |
| Tax Topics - Income Tax Act - Section 9 - Timing | 140 |
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...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(m) | reserve not available based on potential claims processing | 143 |