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Related Entities in Canadian Tax

$69.00

Learn about which entities can be related and why being related matters to understand the tax implications that arise from being related for Canadian income tax purposes.

Hours
1.0

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SKU: TX005 Category: Tag:

Description

This course explores the concept of being related for Canadian income tax purposes, as legislated in section 251 of the Income Tax Act (ITA).  Understanding how individuals and corporates are related to each other is important since it may change the ultimate outcome of the transaction for income tax purposes. We will review the tax outcomes of common related-party transactions, learn the technical rules that distinguish related parties from unrelated parties, and explore examples of the application of these rules.

  • Explain the tax implications arising from being related for income tax purposes in Canada.
  • Explain the technical rules that make different entities related with each other.
  • Apply these technical rules to situations that you may encounter in real life.