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Category: Corporate Insurance

The Need for Corporate Life Insurance

March 22, 2019Corporate Insurance, Estate Planning, Life Insuranceimport

Life insurance is used for two general purposes in a private corporation – managing risk and creating opportunities.  The risk management function is satisfied as life insurance provides the corporation with a tax-free payment in the event of the death…

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Private Corporations Dodge a Bullet with the 2018 Federal Budget

March 6, 2018Corporate Insurance, Tax Planning, Wealth Accumulationimport

The Liberal Government’s Federal Budget was delivered by Finance Minister, Bill Morneau, on February 27, 2018.  There had been much concern and speculation about the direction the budget would take with respect to the taxation of private corporations.  This was…

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Insurance Audit for the Business Owner

October 16, 2017Corporate Insurance, Life Insuranceimport

Many business owners understand the important role that life insurance plays in effective corporate planning.  Whether it is the funding of a shareholders’ agreement, life insuring corporate debt, or protecting against loss from the death of a key employee, life…

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Private Corporations in the Cross Hairs

September 16, 2017Corporate Insurance, Tax Planningimport

If you are the owner of a private corporation you should be concerned about the commentary that is coming from the Department of Finance.  In the Federal Budget of March 2017, Finance expressed their concern that private corporations were being…

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Life Insurance and the Capital Dividend Account

June 11, 2017Corporate Insurance, Estate Planning, Wealth Accumulationimport

Many business owners are unaware that corporate owned life insurance combined with the Capital Dividend Account (CDA) provides an opportunity to distribute corporate surplus on the death of a shareholder to the surviving shareholders or family members tax-free. Income earned…

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Does your Business Qualify for the Small Business Gains Exemption?

December 12, 2016Corporate Insurance, Tax Planningimport

As a business owner, you may be aware that when you dispose of shares in your business you could receive an exemption on all or a portion of the capital gains that ordinarily would be taxable. This is due to…

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Family Business Planning Strategies

August 15, 2016Business Succession Planning, Corporate Insuranceimport

67% are at Risk of Succession Failure If you are an owner in a family enterprise, the chances of your business transitioning successfully to the next generations is not very good.  This has not changed over the years. Statistics show…

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The Clock is Ticking!

May 9, 2016Corporate Insurance, Life Insurance, Tax Planningimport

Don’t Put Off Your Decision to Buy Life Insurance 2016 is an opportune year to buy life insurance.  New laws affecting the taxation of life insurance come into effect on January 1, 2017. After this date new policies will not…

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Protecting Your Business

August 14, 2013Corporate Insuranceimport

While most business owners realize the benefits of corporate-owned insurance, many do not realize that flexible life insurance products such as universal life can provide them with the protection they need as well as a source of cash for business…

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Recent Posts

  • Extended COVID-19 Federal Emergency Benefits
  • Self-employed: Government of Canada addresses CERB repayments for some ineligible self-employed recipients
  • Government of Canada to allow up to $400 for home office expenses
  • Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now
  • Applications for the new Canada Emergency Rent Subsidy starts today!

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Contact Us

Ong Financial Planning Services Ltd.
John Ong, CFP, CHS, CPCA, CCS
Financial Planner
Tel: (604) 676-1088
Email:

1275 West 6th Avenue 3rd floor
Vancouver, BC
V6H1A6

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    About

    John has been providing financial planning advice for over 15 years. John is currently licensed as a life insurance agent, accident & sickness agent, mutual funds representative*, Financial Planner, Certified Health Insurance Specialist, and Certified Professional Consultant on Aging. He specializes in personal financial planning advice with an emphasis on risk management, estate & retirement planning.

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