26 August 2005 Internal T.I. 2005-0121871I7 F - Assurance-vie commissions reçues par une société -- summary under Nature of Income

A corporation is engaged in an insurance business. The broker's licence is in the name of the shareholder. The broker takes out a life insurance policy of which he is the beneficiary and holder of the policy. CRA indicated that assuming the assignment of the commission to the corporation was valid, the commission was required to be included in its income (notwithstanding, per 2001-0070655, the commission would have been exempt if received by him).