What is the effect of an intercompany debt on property equalization?
British Columbia, Canada
The following excerpt is from Mills v. Eglin, Briker Enterprises Ltd., 2008 BCSC 503 (CanLII):
The defendant asks me to reconsider my trial decision (see Mills v. Eglin, 2006 BCSC 1927) and a variation decision (2007 BCSC 1218) in order to consider the following matters: (a) The status of the intercompany debts and the resulting figures for property equalization as a result; (b) The status of the monies paid by the plaintiff from Solstice and the resulting responsibility for income taxes with respect to the same; and (c) Appropriate date for the equalization of the RRSPs between the parties.
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