9 October 2009 CTF Roundtable Q. 25, 2009-0329911C6 F - assurance vie, avantage à l'actionnaire -- summary under Subsection 15(1)

Where Subco is the owner and pays the premiums on a life insurance policy, and the sole shareholder of Subco (Parentco) is the beneficiary, Subco will be considered to be conferring a benefit on Parentco by paying the premiums, so that Parentco would be required to include a benefit in its income.