Archives for June 2016

Shareholder Loans

A shareholder loan is money given by a corporation to a shareholder, or to someone who does not deal at arm’s length with the shareholder. If certain conditions are not met, the loan amount may become a taxable benefit to the…

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Precious Metals and GST/HST

According to subsection 123 of the Excise Tax Act, a precious metal is part of the definition of “Financial Instrument”. This is important because “Financial Instruments” are not subject to GST/HST on their sale.     Precious Metals Precious metals are bars,…

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