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Q: If a director has not received the accrued director fee, is the director fee taxable?
A: The director fee is taxable in the year it is received. However, if the director is a director of a controlled company, and the director fee is not received in the first year, it will be treated as deemed to have been received in the following year and become taxable.
Wishing you plentiful tax savings!
Zen Chow
YYC Tax Guru