8 February 2010 External T.I. 2009-0337691E5 F - Assurance frais-généraux -- summary under Nature of Income

The correspondent, who had purchased a disability insurance policy providing for the payment of the monthly overhead expenses incurred in the operation of the correspondent’s business. CRA indicated that the excess of the amounts received under the policy over the expenses actually incurred were business income, and that the premiums incurred were deductible in computing such income.