CALU Report – Private corporate tax accounts: Timing is everything

October 29, 2021

The Income Tax Act (ITA)1 establishes a number of different tax accounts for private corporations to ensure proper integration of taxes with shareholder distributions and to minimize tax avoidance transactions. This CALU Report will discuss some of the more significant tax accounts, how balances are determined, timing issues that can affect the tax treatment of distributions to shareholders and planning opportunities and pitfalls. This article is not intended to provide a comprehensive review but will instead highlight important planning points.

If you are experiencing any difficulty in accessing this document, please go the Publications workspace in the Members Portal and try the document again.

(Members only)

Download now
Return to Resources & Updates
Return to media room

Share This Story, Choose Your Platform!

Become a CALU member!

When you join CALU, you become part of a national community of industry leaders dedicated to strengthening the financial well-being of Canadians.

Become a Member