Let's not forget that our silver tongued, sorry, I meant silver spooned PM also holds a vacation property in a corporation.

Apparently, for him and Moreau this is a fair use of lower taxed excess retained earnings that they are grand fathering than withdrawing the funds, paying the additional tax, and buying a lessor vacation property.

It doesn't matter who bought it in your company, your mom, dad, great grandfather, the avoidance of tax on excess retained earnings is the same benefit to the shareholder.

The tax act currently permits you to avoid tax by buying a personal vacation property in a corporation.

However make very certain that you report the available for use personal benefit of the corporate held personal vacation property!

If you don't report this taxable benefit it would be a clear case of tax evasion and that my friends is a criminal offence.