Is a shareholder of a corporation entitled to use of the corporation's corporate property for personal use purposes?

Canada (Federal), Canada

The following excerpt is from Servais v. The Queen, 2003 FCA 329 (CanLII):

Put simply, any use by a shareholder of corporate property is potentially subject to tax under subsection 15(1). The value of the benefit is determined in accordance with the principles set out in the case law (see, for example, Youngman v. Canada (1990), 109 N.R. 276, 90 D.T.C. 6322, [1990] 2 C.T.C. 10 (F.C.A.)) except to the extent that the method of valuation is stipulated in the Income Tax Act.

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