We can observe only a portion of the entire universe. Because the universe is only about 14 billion years old, light has only had about 14 billion years to travel through it. Therefore, the most distant regions of the universe we can see are about 14 billion light-years away. This is the extent of the observable universe, but the entire universe is probably much larger.
According to the Internal Revenue Service, any interest you receive, or that is credited to an account and is available for withdrawal, is taxable in the year you receive it. This money is included in your annual income when you file your taxes, making the tax rate on interest equal to your normal income tax rate.
Loans Can Be Considered Taxable Income by CRA. Generally, shareholders are taxed on any amounts received from a corporation. The purpose of this limitation is to include in a shareholderâs income amounts received from the corporation in the guise of a loan or other indebtedness. Persons who donât deal at armâs length with a shareholder (i.e., a family member) are considered connected with that shareholder under the Act.