Chart of Accounts Personal Loans

by Pete King
(Ontario, Canada)

Chart of Accounts Personal Loans

Chart of Accounts Personal Loans

If I give my friend some money on a regular basis to pay back a loan and they deposit that into their personal account, do they have to declare that as income?

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Aug 21, 2011
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Personal Loan
by: Anonymous

If it is a personal loan they should not have to declare the loan amounts they are receiving back as income.

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