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Seniors and students
I have not been able to find anything that says you need to report this on your income tax return. It appears the tax payable resulting from the disposition should have been settled when the insurance company filed the T2062B form.
From the CRA information: "If you have disposed of a life insurance policy, Form T2062B and any required payment will be sent to us by the life insurance company". The form itself says "A final settlement of the tax liability is made when the non-resident files a Canadian income tax return".
‎October 30, 2019
11:07 AM