28 November 2010 CTF Roundtable Q. 21, 2010-0386361C6 - 2010 CTF Q21 - Reasonable Salary for Inc. Prof. -- summary under Subsection 245(4)

CRA stated that para. 1(j) of IT-189R2 ("Corporations Used by Practising Members of Professions") and para. 17 of IC 88-2 ("General Anti-Avoidance Rule) are both correct in context and are not contradictory.

(IT-189R2 provides that, in determining whether a corporation is carrying on a professional practice under s. 125, a relevant factor is whether the corporation pays the professional a reasonable salary in an employment relationship under a written agreement. IC 88-2 provides that it is not an abuse under s. 245(4) for a corporation, for tax reasons, to decline to pay a non-arm's-length employee so as to avoid generating losses.)

Topics and taglines
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
311595
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
343895
Extra import data
{
"field_editor_tags": [],
"field_roundtable_subquestion": "21",
"field_stub": false,
"field_legacy_header": "<a href=\"/?p=15349\">28 November 2010 CTF Roundtable Q. 21 2010-0386361C6</a>"
}