If you are a shareholder of a private corporation, a loan from your corporation can be an easy way to access cash for your personal needs, at least in the short term.
If for any two of three consecutive taxation years, your “net tax owing” is more than $3,000 (or $1,800 if you are a Quebec resident) after you file your personal income tax return, you can expect that the Canada Revenue Agency (“CRA”) will request that you pay your current year’s income tax in quarterly instalments.