Dave owns 100% of the issued shares of D Ltd. His wife, Mary, owns 100% of the issued shares of M Ltd. D Ltd. owns 48% of the shares of X Ltd. while M Ltd. own only 5% of the shares of X Ltd. The remaining 47% of the shares are owned by strangers.

Dave and Mary have a 32-year-old son, Sam. He owns 100% of the issued shares of S Ltd. Sam’s cousin, Ben, and S Ltd. each own 50% of the issued shares of Y Ltd. All of the corporations are Canadian-controlled private corporations and all of the issued shares are common shares.

Required:

(a) Which of the individuals and/or corporations are related persons, as defined in the Income Tax Act?

(b) Which of the corporations are associated corporations, as defined in the Income Tax Act?

(c) Which of the corporations are connected corporations, as defined in the Income Tax Act?

(d) Which of the individuals and/or corporations are affiliated persons, as defined in the Income Tax Act?