What is a Shareholder Loan?

By |2022-08-20T22:36:18+00:00August 15th, 2022|Accounting, Taxes|

If you have a company, you may have heard the term shareholder loan. You may even know the current balance of what your company owes you. If you have no idea what a shareholder loan is or whether you have one, that’s okay. In this post, we’ll explain what a shareholder loan is and why the money you withdraw from it isn’t always tax free. What is a shareholder loan? A shareholder loan is, simply put, a loan that a shareholder makes to their corporation. The Canada Revenue Agency (CRA) doesn’t consider this money as income for the corporation, so there’s [...]