Alberta Court rules on what is a “reasonable amount” of interest under s. 20(1)(c)

Test for reasonableness of interest amount is whether no business would have contracted to pay that amount:  Alberta Court of Queen’s Bench This summer saw the first case in which a court articulated the test for determining whether an interest amount is reasonable for purposes of paragraph 20(1)(c) of the Income Tax Act (Canada) (“ITA”).  No other Canadian federal or provincial court has ruled on … Continue reading Alberta Court rules on what is a “reasonable amount” of interest under s. 20(1)(c) »