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Essential Facts about Shareholder Loans and Its Tax Implications for Incorporated Businesses

Thursday, January 16 | 12:00 PM - 1:00 PM

ATB Entrepreneur Centre, Calgary

This seminar is ideal for sole proprietors, start-ups and small to medium sized businesses.

If you are a shareholder of a corporation or ‘connected” with a shareholder of a corporation and you withdraw funds from the corporation, you may be required to include the entire amount of the loan in your income under the “Shareholder Loans” provisions of the Act.

  • Learn about what constitutes of the shareholder loan account within your corporation.
  • Learn about the basic rules imposed by the Canada Revenue Agency (CRA) when an ownermanager borrows funds from the corporation.
  • Learn about some exceptions available to allow shareholders to take loans for a longer period of time.
  • Learn about clearing the shareholder loans by either paying a Salary or declaring a Dividend and its advantages and disadvantages.
  • Understanding the corporate and personal tax effects of paying dividends versus salaries.

Speaker Bio: 

Vartika Satija, CPA, CA is an independent designated professional accountant, striving to work with small businesses to educate and provide a financial check up of their business. Her passion is to partner up with Sole Proprietors, Small Businesses and Non for Profits to provide ongoing guidance towards their unique Accounting and Tax requirements. Her mission is to ensure that small businesses are well educated and informed about the best tax and accounting practices to be able to manage their cash flows and utilize in the best possible ways that will help to grow their business, achieve their financial goals and make a difference in the community. Her intensive experience includes personal and corporate tax compliance, tax planning, and other business advisory and who have also been involved in all sorts of businesses such as manufacturing, consulting, professional services, constructions, retail, restaurants, real estate, and many more.

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