Shareholder Loan To Corporation

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TaxTips.ca - Shareholder Loans and Their Tax Implications

If a corporation has a December 31st year end then for the shareholder loan to be cleared by a payment of salary the salary payment must be made or recorded in the books of the corporation as having been paid in December.

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

Actived: Wednesday Aug 21, 2019 (4 days ago)

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Shareholder Loans and Your Private Corporation

A corporation may from time to time advance funds to a shareholder or members of the shareholders family in the form of a loan or indebtedness. The Income Tax Act contains rules that may have income tax consequences for the person receiving the loan.

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

Actived: Monday Aug 19, 2019 (5 days ago)

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Shareholders Loan to my Corporation

I believe the first accountant is correct. This was a shareholder loan that the company is repaying so it is not personal income for you two. However the corporation did earn the 50 000 with which to pay you back.

Link: https://www.canadianmoneyforum.com/showthread.php/11153-Shareholders-Loan-to-my-Corporation

Actived: Wednesday Aug 21, 2019 (3 days ago)

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Shareholder Loans - Madan CA

As a shareholder there are a number of ways to withdraw funds from your corporation i.e. you can declare dividends receive salary or take bonuses.

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

Actived: Monday Aug 19, 2019 (5 days ago)

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UNDERSTANDING YOUR SHAREHOLDER LOAN ACCOUNT

Your shareholder loan account is made up of all capital that you contribute to the corporation and all purchases made on behalf of the corporation using personal funds or personal credit cards netted against cash withdrawals and personal expenses paid by the company on your behalf.

Link: https://www.eprcpa.ca/understanding-your-shareholder-loan-account/

Actived: Wednesday Aug 21, 2019 (4 days ago)

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What Is a Shareholder Loan Bizfluent

Shareholder loans as the name implies are funds that shareholders lend to the corporation in which they hold shares. To qualify as a shareholder loan under Internal Revenue Service code the loan cannot be to start a corporation it must be an established business.

Link: https://bizfluent.com/info-10062485-shareholder-loan.html

Actived: Tuesday Aug 20, 2019 (5 days ago)

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Shareholder Loan Understand it and Avoid Trouble with the

An owner withdrawing money from a corporation is the most basic example for how a shareholder loan is used. If the withdrawal is not designated as a dividend or a salary it creates a loan from the corporation to the shareholder.

Link: https://www.avalonaccounting.ca/blog/shareholder-loan

Actived: Monday Aug 19, 2019 (6 days ago)

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Your Shareholder Loan Balance How to handle it and steer

Shareholder Benefit Rules. Generally when you borrow funds from your company and don t repay it within one year the CRA can assess the outstanding balance as ordinary income at an income tax rate similar to that of a salary.

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

Actived: Tuesday Aug 20, 2019 (4 days ago)

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Taxation of Shareholder Loans CRA Tax Assessment

As an owner-manager of a corporation you can compensate yourself by way of salary dividends management fees or by a shareholder loan. Though generally any distribution from your company is subject to taxation each type of distribution has different tax implications and needs to be properly documented.

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

Actived: Tuesday Aug 20, 2019 (5 days ago)

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ARCHIVED - Debts of Shareholders and Certain Persons

Summary. Shareholders are generally taxable on amounts received from a corporation. The purpose of subsection 15 2 is to include in a shareholder s income amounts received from a corporation in the guise of loans or other indebtedness with specific exceptions provided in the law.

Link: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/it119r4/archived-debts-shareholders-certain-persons-connected.html

Actived: Thursday Aug 6, 1998 (21 years ago)

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