Glossary -> Small Business -> Specified Shareholder
Specified Shareholder
Income Tax Act (ITA) s. 248(1)
A specified shareholder of a corporation is a person who owns, directly or indirectly, at any time in the year, not less than 10% of the issued shares of any class of the capital stock of the corporation or of any other corporation that is related to the corporation. As well, a taxpayer is deemed to own each share of the capital stock of a corporation owned by a person with whom the taxpayer does not deal at arm's length.
TaxTips.ca Resources
Personal Services Business - no small business deduction, limited expense deductions
Corporate tax rates - federal and provincial, general and small business
Should you incorporate your small business?
Specified Investment Business (SIB) - not eligible for small business deduction, includes information and court case re campgrounds.
Canada Revenue Agency (CRA) Resources
T2 Corporation Income Tax Guide (T4012) - Specified Shareholder
Tax implications for a personal services business
Revised: October 26, 2023