06/26/2026
💳 Using your corporation to pay personal expenses?
Be careful.
The courts recently confirmed that personal expenses paid through a corporation may be considered taxable shareholder benefits unless there is clear evidence of repayment intentions from the start.
Mixing personal and business finances can create tax headaches that are expensive to fix later.
✔️ Keep personal and business expenses separate
✔️ Document shareholder loans properly
✔️ Maintain clear records
📞 Need help keeping your books CRA-ready? Bailey's Tax Services can help.
📱 Call us at 416-640-1818 or 437-766-1682
🌐 Visit www.baileystaxservices.com