Debt forgiveness could trigger Ontario CMT
12 October 2016 - 11:02pm
A forgiven amount will increase a corporation’s adjusted net income for Ontario corporate minimum tax purposes (assuming that the forgiven amount is income under GAAP).
Neal Armstrong. Summary of July 2016 External T.I. 2015-0595481E5 under Taxation Act, 2007, s. 54(2)(a).