For business owners, life insurance can become much more than income protection. As your business and wealth grow, questions around future tax liabilities, estate equalization, business obligations, and transferring wealth can make the right insurance structure increasingly important.

In this episode, Frankie and Sarah welcome Hemal Balsara, Head of Tax, Retirement and Estate Planning at Manulife, to explore how life insurance can support different planning needs. They look at term and permanent insurance, health and financial underwriting, conversion features, and how permanent policies may fit into tax and estate planning. They also explore corporate-owned life insurance, the capital dividend account, and why policy ownership and beneficiary designations require careful consideration.

For business owners, choosing a life insurance policy isn’t only about how much coverage to buy. The type of policy, underwriting requirements, conversion options, ownership structure, and beneficiary designation can all affect how that coverage fits into a broader tax and estate plan. Listen to the full episode to hear what Frankie, Sarah, and Hemal say business owners should understand as they evaluate those decisions.

Frankie, Sarah, and Hemal discuss:

• What business and estate planning needs can life insurance help address?
• How can term and permanent life insurance serve different planning needs over time?
• Why do health, financial underwriting, and conversion features matter when choosing coverage?
• How can corporate-owned life insurance and beneficiary designations affect tax and estate planning?

Connect with Frankie Loreto and Sarah Netley:

• Courtice.BakerTilly.ca
• LinkedIn: Baker Tilly Canada
• LinkedIn: Frankie Loreto
• LinkedIn: Sarah Netley
• Call: (905) 579-5659

Connect with Hemal Balsara:

• Manulife
• LinkedIn: Hemal Balsara

About our Guest:

Hemal Balsara is Head of Tax, Retirement and Estate Planning at Manulife, where his work focuses on providing tax, retirement, estate, and insurance planning support to advisors navigating complex planning situations. His areas of focus include life insurance, retirement and estate planning, corporate planning, wealth transfer, and the tax implications associated with different insurance structures. In this episode, Hemal shares his perspective on how life insurance can address both temporary and permanent needs, while explaining considerations around underwriting, policy ownership, beneficiary designations, and corporate-owned insurance.

Canada’s July 2026 draft tax legislation includes several proposed changes that could affect businesses and individual taxpayers. From Disability Tax Credit applications and transfer pricing paperwork to the new $5,000 Red Seal Completion Bonus, understanding what’s being proposed can help you identify which changes may be worth discussing with your tax advisor.

In this episode, Frankie and Sarah welcome Rebecca Adrian, CPA, CFP, Senior Manager with Baker Tilly’s National Tax group, to explain several proposals included in the summer 2026 draft tax legislation. They look at who may be affected, when the proposed rules could offer relief, and why businesses shouldn’t assume that a single exemption eliminates all tax concerns. They also explore proposed changes to automobile benefits for partners and shareholder loans involving certain foreign affiliates.

These measures remain in draft form and may change before becoming law. Listen to the full episode for a practical overview of which proposed tax changes you or your business may want to review with a tax advisor.

Frankie, Sarah and Rebecca discuss:

• Who may be able to certify a Disability Tax Credit application under the proposed expanded rules?
• When could Canadian businesses with smaller cross-border transactions qualify for simplified transfer pricing documentation?
• Is the proposed $5,000 Red Seal Completion Bonus taxable, and how could it affect childcare expense and skilled trades deductions?
• How could the proposed rules for automobile benefits for partners and foreign affiliate shareholder loans affect certain businesses and taxpayers?

Resources:

• Summer 2026 Draft Tax Legislation: What You Should Know
• Baker Tilly Canada Tax Services

Connect with Frankie Loreto and Sarah Netley:

• Courtice.BakerTilly.ca
• LinkedIn: Baker Tilly Canada
• LinkedIn: Frankie Loreto
• LinkedIn: Sarah Netley
• Call: (905) 579-5659

Connect with Rebecca Adrian:

• Baker Tilly Canada: Rebecca Adrian
• LinkedIn: Rebecca Adrian

About our Guest:

Rebecca Adrian is a Senior Manager with Baker Tilly’s National Tax group. She monitors new and proposed Canadian tax legislation and helps businesses and taxpayers understand how legislative developments may affect their tax planning, reporting, and compliance obligations. Rebecca also contributes to Baker Tilly Canada’s tax alerts and regularly joins From The Source to discuss federal budgets, economic updates, and draft tax legislation.

Planning to build, purchase, or expand a manufacturing facility? Proposed Canadian tax changes could create a meaningful opportunity for eligible businesses, but understanding the rules before making a major investment is essential.

In this episode, Frankie and Sarah are joined by Rebecca Adrian, CPA, CFP, a member of Baker Tilly’s National Tax team, to unpack proposed legislation in Bill C-31 and what it could mean for Canadian manufacturers. Together, they discuss immediate expensing for qualifying manufacturing and processing buildings, the conditions businesses must meet to remain eligible, proposed rules for suspending dividend refunds, and why proactive tax planning and audit readiness are more important than ever.

Frankie, Sarah, and Rebecca discuss:

• How immediate expensing could help eligible Canadian manufacturers build, purchase, or expand qualifying manufacturing and processing facilities.
• What businesses need to know about eligibility requirements, including qualifying use, timing, prior deductions, and the 10-year compliance period.
• Why replacement property rules, mixed-use buildings, and recapture provisions make proactive tax planning essential before claiming the incentive.
• How proposed dividend refund suspension rules could affect corporations with passive income, tiered corporate structures, trusts, or mismatched year-ends.
• Maintaining documentation and staying audit-ready is increasingly important as CRA compliance activity continues to grow.

Connect with Frankie Loreto and Sarah Netley:

• Courtice.BakerTilly.ca
• LinkedIn: Baker Tilly Canada
• LinkedIn: Frankie Loreto
• LinkedIn: Sarah Netley
• Call: (905) 579-5659

Connect with Rebecca Adrian:

• LinkedIn: Rebecca Adrian
• LinkedIn: Baker Tilly Canada

About our Guest:

Rebecca Adrian is a member of Baker Tilly Canada’s National Tax team, where she specializes in interpreting complex tax legislation and helping advisors and clients navigate evolving tax rules. In this episode, Rebecca shares practical insights on Bill C-31, immediate expensing for manufacturing and processing buildings, proposed dividend refund suspension rules, and the importance of proactive tax planning and CRA audit readiness for Canadian businesses.