Shareholder Loan Repayment

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TaxTips.ca - Shareholder Loans and Their Tax Implications

S. 15 2 does not apply if the entire loan is repaid within 1 year after the end of the taxation year of the lender as long as the repayment was not a part of a series of loans or other transactions and repayments.

Link: https://www.taxtips.ca/smallbusiness/shareholderloans.htm

Actived: Sunday Aug 11, 2019 (5 days ago)

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Taxation of Shareholder Loans CRA Tax Assessment

The general rule is that if a withdrawal from a corporation designated as a shareholder loan is repaid within one year from the end of the taxation year of the corporation that is the taxation year in which the loan was made it will not be included in the income of the borrower. So for example if the year-end for the corporation is December 31 2011 and you borrowed from the corporation

Link: https://taxpage.com/articles-and-tips/owner-manager-taxation/shareholder-loans/

Actived: Sunday Aug 11, 2019 (5 days ago)

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Your Shareholder Loan Balance How to handle it and steer

Repayment of Loan. The simplest solution to avoid being taxed on the loan is to repay it within one year. If you can repay the funds that you borrow from your company within a year of borrowing them you won t be taxed on the funds that you borrowed.

Link: https://www.liveca.ca/your-shareholder-loan-balance/

Actived: Wednesday Aug 14, 2019 (3 days ago)

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Avoid the Tax Trap When Repaying Shareholder Loans

Avoid the Tax Trap When Repaying Shareholder Loans Careful planning can shield recognition of gain on loan repayment. BY BRIAN K. HOWELL

Link: https://www.journalofaccountancy.com/issues/2004/nov/avoidthetaxtrapwhenrepayingshareholderloans.html

Actived: Sunday Oct 31, 2004 (15 years ago)

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Shareholder Loans and Your Private Corporation

One Year Rule As outlined above if the loan is repaid by the shareholder within the year after the end of the corporations tax year the loan is not included in income. However the loan cannot be a series of loans and repayments.

Link: http://deanpaley.com/shareholder-loans-and-your-private-corporation/

Actived: Tuesday Aug 13, 2019 (4 days ago)

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Shareholder Loans - Madan CA

A loan from the corporation to a shareholder or connected person not dealing at arm s length with the shareholder will result in a deemed taxable benefit to the shareholder unless the entire loan is repaid within 1 year after the end of the corporation s year-end.

Link: http://madanca.com/articles/entry/shareholder-loans-how-to-get-cash-out-of-your-corporation-tax-free/

Actived: Tuesday Aug 13, 2019 (3 days ago)

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