Mr. Edwards owns all of the outstanding shares of Edwards Inc., a large property management company, which
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Mr. Edwards owns all of the outstanding shares of Edwards Inc., a large property management company, which manages over 20 large apartment buildings. One spring Mr. Edwards had the repair crew spend five days at his cottage making extensive repairs to the building. The value of these repairs was $8,500 (including HST). Because of his busy schedule, Mr. Edwards apparently forgot to tell his controller to send him a bill for the work done.
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If the CRA were to discover this transaction during their audit, how would they reassess?
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Related Book For
Introduction To Federal Income Taxation In Canada 2016-2017
ISBN: 9781554968725
37th Edition
Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett
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