Aylward v. R., 97 DTC 1097, [1997] 2 CTC 2748 (TCC) -- summary under Subsection 84(1)

By services, 28 November, 2015

The issuance to the taxpayer of shares having a paid-up capital of $350,000 did not give rise to a deemed dividend because they were in respect of past services he had provided to the corporation having an agreed value of the same amount. It was not relevant that the corporation's financial statements did not record the value of the services as a liability.

Topics and taglines
Topic
Income Tax Act - s. 84(1)
Tagline
shares satisfied liability for services
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
338918
Extra import data
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