CLHIA-ACCAP

2016-2017 Annual Report

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were also invited to join the federal government's NAFTA Services Advisory Committee as the government began its preparation to renegotiate NAFTA. c We also continued our leadership role within the Global Federation of Insurance Associations (GFIA) and CLHIA senior staff chair the committees on Taxation and Anti-money Laundering/ countering Terrorism Financing. Further, CLHIA's President and CEO participated on the Executive Committee of GFIA. Taxation c The CLHIA was successful in obtaining transitional relief to the exempt test rules (effective January 1, 2017). This helps avoid disruptions in the flow of new business over the 2016-2017 year- end that would otherwise have arisen. c We also continued to be very active in minimizing the industry's compliance burdens for implementing the OECD's Common Reporting Standard (CRS), which comes into effect in Canada July 1, 2017. The vast majority of the industry's recommendations were adopted in CRA's guidance. c In response to GST/HST inquiries from the Canada Revenue Agency and Revenu Québec to tax all or part of the override commissions paid to MGAs, the CLHIA has worked to suspend assessments pending industry representations. These representations are ongoing. c Given the need for stable tax revenues, there is concern that the provinces could increase premium and sales taxes on insurance premiums, as in Saskatchewan's recent sales tax increase. The CLHIA continues to advocate against such increases, and where increases have been announced, work with provincial authorities and legislators to limit the consequences. Mental Health c The 2016-17 year was very productive for the CLHIA's Committee on Mental Health. For example, it launched in June 2016 the first edition of the industry mental health e-newsletter Spark!, which provides tools and resources to member companies to assist in enhancing their mental health programs in the workplace. In addition, two CLHIA-hosted webinars on mental health in the workplace experienced record attendance. Financial Literacy c Contributing to member companies' efforts to improve Canadians' financial literacy continues to be an A Message from the President and CEO Board of Directors Review of the Year's Results CLHIA Code of Member Service Members CLHIA Officers Chair's Message

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