TORONTO, June 15, 2012 /CNW/ - Advocis, The Financial Advisors
Association of Canada, commends the Manitoba government's decision
yesterday to amend Bill 39 to exempt individual critical illness
insurance (CI) and disability insurance (DI) from the retail sales tax
(RST) that is being imposed on a variety of insurance premiums.
"This is excellent news for individuals and small businesses in
Manitoba. It will encourage Manitobans to continue to financially
protect their families and businesses from health risks without
sacrificing coverage," said Greg Pollock, president and CEO of Advocis.
In May, Advocis joined other industry stakeholders in engaging the
Government of Manitoba following the 2012 budget announcement that the
seven per cent RST would be imposed on insurance premiums.
Advocis, The Financial Advisors Association of Canada, is the
association of choice for financial advisors and planners. With more
than 11,000 members across the country, Advocis is the definitive voice
of the profession, advocating for professionalism and consumer
protection. Professional financial advisors and planners are critical
to the economy, helping consumers make sound financial decisions that
ultimately lead to greater financial stability and independence.
Advocis works with decision-makers and the public, stressing the value
of financial advice and striving for an environment in which all
Canadians have access to the advice they need.
SOURCE Advocis, The Financial Advisors Association of Canada
For further information:
Kristin Doucet, Director of Communications (416) 342-9896 / 1-800-563-5822, ext. 9896