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Gloria is a shareholder and key employee of IBM Ltd . , a CCPC with a September 3 0 th , fiscal year end. Gloria

Gloria is a shareholder and key employee of IBM Ltd

.,

a CCPC with a September

30

,

fiscal year end. Gloria

s daughter, age

19,

a full

-

time student at the University of Toronto, received an interest

-

free loan of $

20, 000

from IBM Ltd

.

on December

31, 2020

to pay her tuition. The loan is repayable in full in

2023,

one year after she graduates.

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