WPH Mechanical Services Ltd. v. The Queen, 2007 DTC 263, 2006 TCC 677 -- summary under Payment & Receipt

t was found that bonuses declared payable by the taxpayer to its two directors were paid by it within the 180 day period referred to in s. 78(4) pursuant to a demand loan agreement (notwithstanding that the directors did not report the portion of the demand loan that was not paid in cash until the subsequent year as employment income until that subsequent year).