Taxation
AFTER DE FACTO DIRECTORS, WE NOW HAVE DE FACTO SHAREHOLDERS
February 03, 2021 —
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Under section 160 of the ITA, a transferee of property may be assessed for the tax liability of the transferor to the extent that the FMV of the transferred property exceeds the FMV of the consideration given for the property. Salary payments are generally not subject to section 160, because the recipient has given consideration for the […]