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Comments In general, the CCRA does not challenge the reasonableness of salaries and bonuses paid to the principal shareholder-managers of a corporation when: (a) the general practice of the corporation is to distribute the profits of the company to its shareholder-managers in the form of bonuses or additional salaries; or (b) the company has adopted a policy of declaring bonuses to the shareholders to remunerate them for the profits the company has earned that are, in fact, attributable to the special know-how, connections, or entrepreneurial skills of the shareholders. ...

Box 13 – Interest from Canadian sources Enter the following amounts, as long as you did not previously report them: interest on a fully registered bond or debenture; interest on money loaned to or on deposit with, or interest on any kind of property placed with, a corporation, association, organization, or institution; interest on an account with an investment dealer or broker; interest an insurer paid in connection with an insurance policy or annuity contract; interest on an amount owing as compensation for property that has been expropriated; the interest part of blended payments unless paid by an individual or if paid by a corporation, association, organization or institution (see Chapter 9 – Blended payments and deemed dividends); dividends paid or payable by a credit union to a member who has a share in the credit union, if the share is not listed on a designated stock exchange; taxable dividends other than capital gains dividends that a mortgage investment corporation paid to any of its shareholders. ...

Generally, such a requirement can occur when there is a "forgiven amount" in connection with the settlement of a "commercial obligation" issued by the taxpayer. ...

“Advantage” is defined in subsection 207.01(1) to include any increase in the total FMV of property held in connection with a TFSA that can reasonably be considered to be attributable, directly or indirectly, to a transaction or event (or a series of transactions or events) that would not have occurred in an open market between arm’s-length parties acting prudently, knowledgeably, and willingly, and one of the main purposes of which is to benefit from the tax-exempt status of the TFSA; or a payment received in substitution for either (1) a payment for services rendered by the holder or non-arm’s-length person, or (2) a payment of a return on investment or proceeds of disposition in respect of property held outside the TFSA by the holder or non-arm’s-length person. ...

This is of significance in connection with those plans under which the effect of withdrawal credits may mean that the amount paid in respect of current service is less than the gross cost for such current service. ...

Debts incurred in connection with the buying and selling of investments includes debts such as brokerage fees and other incidental amounts related to the buying or selling of investments. ...

All relevant factors that affect the individual taxpayer's benefits and obligations in connection with their financial and living requirements may be reviewed to determine the taxpayer's ability to pay a balance owing. 28.2. ...

Box 13 – Interest from Canadian sources Enter the following amounts, as long as you did not previously report them: interest on a fully registered bond or debenture interest on money loaned to or on deposit with, or interest on any kind of property placed with, a corporation, association, organization, institution, partnership, or trust interest on an account with an investment dealer or broker interest an insurer paid in connection with an insurance policy or annuity contract interest on an amount owing as compensation for property that has been expropriated the interest part of blended payments unless paid by an individual or if paid by a corporation, association, organization, institution, partnership, or trust (see Chapter 9 – Blended payments and deemed dividends) dividends paid or payable by a credit union to a member who has a share in the credit union, if the share is not listed on a designated stock exchange taxable dividends other than capital gains dividends that a mortgage investment corporation paid to any of its shareholders Do not include: interest from a source outside Canada (see Box 15 – Foreign income) the interest part of a blended payment made by an individual interest one individual pays to another, such as interest paid on a private mortgage (this does not include investment dealers or brokers making payments for client program accounts) interest paid on loans from banks, financial institutions, or other institutions whose usual business includes lending money the accrued income from an annuity described under former paragraph 56(1)(d.1), or accrued income of certain life insurance policies (see Box 19 – Accrued income: Annuities) For more information on accrued interest on investment contracts, see Chapter 8 – Accrued interest. ...

This is of significance in connection with those plans under which the effect of withdrawal credits may mean that the amount paid in respect of current service is less than the gross cost for such current service. ...

All relevant factors that affect the individual taxpayer's benefits and obligations in connection with their financial and living requirements may be reviewed to determine the taxpayer's ability to pay a balance owing. 28.2. ...