Money Talk
JANUARY 4, 2024
Life Insurance - This is money transferred to a beneficiary via a deceased person’s life insurance policy. Like inheritances, life insurance is generally not subject to income tax. Inheritances are not considered taxable income by the federal government but earnings on inherited assets (e.g.,
Workers' Compensation Perspectives
JANUARY 1, 2019
Other real expenses that are excluded from the “basket of goods” [in Canada, at last] are real estate and life insurance. Think about communications, for example; with internet services and mobile data becoming essential utilities, it makes sense that they be included and their weight increased.
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