Who Else Agrees With Us?
August 16th, 2007 by adminIf you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
“Tax-sheltered insurance accounts are an excellent way of building assets for retirement. At retirement, borrowing tax-free income is a strategy that will maximize spendable income while avoiding benefit drawbacks and reducing or eliminating tax payable.”
Terry Laughren, Chartered Accountant Laughren & Associates, Saskatoon
“Individuals looking for tax shelters or deferral mechanisms may wish to explore the benefits that may be derived from an “exempt” life insurance policy. Such policies may be a powerful tool in the tax planning arsenal, particularly when many other tax shelters appear to have been curtailed.”
“The returns from virtually tax-free accumulation after the deduction of the insurance costs, compared to taxable accumulations, can, over a long period, be quite remarkable.”
Excerpt from: Tax Planning Checklist Coopers & Lybrand Chartered Accountants, Canada
“The life insurance industry has developed attractive products that allow you to build up cash in a tax-sheltered environment. An exempt life insurance contract can help you meet two planning objectives: having insurance coverage, and providing retirement income from tax sheltered growth. The investment fund can be borrowed against or paid out in later years.”
Excerpt from: Personal Tax Planning Guide
KPMG Peat Marwick Thorne Chartered Accountants, Canada
Posted in Tax Saving Information |