24 November 2011 External T.I. 2011-0416791E5 F - Shareholder Benefit -- summary under Subsection 15(1)

Opco is the beneficiary of a universal life insurance policy (the "Policy") on the life of its sole shareholder, Mr. A, who is the policyholder. Opco pays the premiums on the Policy. A policy loan is made by the insurer to Mr. A. Is there a shareholder benefit?

CRA indicated that the payment of the premiums gave rise to s. 15(1) benefits, but not the advance of the policy loan.

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Income Tax Act - s. 15(1)
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d7 import status
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d7 import status
Drupal 7 entity type
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Drupal 7 entity ID
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