NPO members can receive a taxable “shareholder” benefit

Responding to a spirited submission to the contrary, CRA maintained its position "that members of a non-profit corporation without share capital will be considered shareholders thereof for purposes of subsection 15(1)… notwithstanding that they are not entitled to receive dividends."

Neal Armstrong.  Summary of 7 November 2013 T.I. 2013-0473771E5 under s. 15(1).