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Thank you for doing business with Canada Life. Here’s the latest issue of the eBulletin from Canada Life with information to help you in your business with us. Please forward to your advisors where appropriate. 

In this week’s issue: 

1. Compliance: new legislative changes coming into effect

1.  
   • Changes to AML legislation
   • New legislation requires financial institutions to report accounts held by non-Canadian and non-U.S. persons to CRA
2. Protected today, options for the future
   • NEW value of return-of-premium tool shows return-of-premium rider at work by showing equivalent rate of return values for either critical illness insurance or disability insurance
   • Year-over-year analysis in detailed report
   • Ability to show paid-up option on the permanent level premium, paid up at 100 plan
3. Advanced sales article – Backend leveraging: loan to shareholder vs. loan to corporation
   • Shareholder borrowing and corporate borrowing have significantly different tax considerations in the context of the corporate collateral loan strategy

This article gives an overview of these differences and includes commentary on the new back-to-back loan rules and the Golini v. The Queen case from the Tax Court of Canada