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Blogs tagged with shareholders liability

Shareholder’s Liability – the Dangers of Non-Arm-Length Transfers

Non-arms-length transfers are transactions between individuals who are related by blood, marriage, common-law partnership or adoption. Non-arms-length transfers are generally not considered market value. In addition, these transactions do not eliminate shareholder’s liability. Tax liability for non-arms lengths transactions is discussed in Section 160 of the Income Tax Act. This…


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