Wallace v. Canada, 98 DTC 6326 (FCA) -- summary under Subsection 15(2)

By services, 28 November, 2015

The taxpayer became indebted to a company of which he was a sole shareholder as a result of a bank calling in a guarantee by the company of a loan that had been made to him. The writing-off by the company of the debt was not the equivalent of its repayment, with the result that the amount of the indebtedness was to be included in his income.

Topics and taglines
Topic
Income Tax Act - s. 15(2)
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
334408
Extra import data
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