I had people spit on me, throw things at me and want to physically fight me â people who had never met me or talked to me. In the age of social media, this is what I get:  @kato_kaelin why don't U just die, loser. Ur worthless.. Never has a man done so little to be recognized by so many.
Full or partial cash repayment of the debt by the corporation reduces the shareholder's loan basis. (Repayment with property other than cash is beyond the scope of this item.) If the debt basis has previously been reduced to zero, all the subsequent repayment is treated as taxable income to the shareholder.
No principal repayments are made on the loan in 2008. Depending on the interest rate paid by Mr. X, compared with the prescribed interest rate for employee loans, there may be a taxable benefit under s. 80.4(1) of the Income Tax Act.The prescribed interest rates for 2008 (leap year) for employee loans were:epending on the interest rate paid by Mr. X, compared with the prescribed interest rate for employee loans, there may be a taxable benefit under s. 80.4(1) of the Income Tax Act. The prescribed interest rates for 2008 (leap year) for employee loans were: