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  3. 12 mr. greg bigson owns 100% of the shares of a pr

12 Mr. Greg Bigson owns 100% of the shares of a private corporation called Big...

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Accounting

12 Mr. Greg Bigson owns 100% of the shares of a private corporation called Big Co. Under the direction of Mr. Bigson, Big Co. provided a gift wor $125,000 to Mr. Bigson's wife, Susan. Susan is not an employee or shareholder of Big Co. Which of the following correctly describes the tax consequences of this gift? O This gift will be considered an indirect payment under ITA 56(2), resulting in income of $125,000 to be included in Greg's net income. O This gift will be considered an indirect payment under ITA 56(2), resulting in income of $125,000 to be included in Susan's net income. O This gift will be considered shareholder benefit under ITA 15(1), resulting in income of $125,000 to be included in Greg's net income. O This gift will be considered shareholder benefit under ITA 15(1), resulting in income of $125,000 to be included in Susan's net income

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