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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.

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Revised: May 19, 2025

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