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Is loan to buy stock from ex-employee CRA reportable?

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Question: 
Is a loan to a company buying stock from an ex-employee CRA reportable? It is secured by business assets.
Answer: 

Without a lot of other detailed information, your question can't be answered. Oftentimes, it's up to the bank to write up the loan in terms that "sell" its qualification for CRA consideration. There's nothing in your question that accomplishes that goal. If you submit the loan as CRA-reportable, be ready for your examiner to ask for supporting information to back up the claim.

First published on 09/22/2019

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