29 July 2004 Internal T.I. 2003-0023761I7 F - Contrat de SWAP d'équité -- attach -- Futures/Forwards/Hedges
equity swap was to hedge the risk under a capital borrowing, so that loss on closing out the swap was on capital account
Futures/Forwards/Hedges
14 January 2010 Internal T.I. 2009-0323991I7 F - Débenture échangeable et opération à terme -- attach -- Futures/Forwards/Hedges
premium was paid on capital account in closing out a cash-settled forward entered into in order to monetize a shareholding
13 February 2020 External T.I. 2019-0826051E5 - Income from a securities trading business -- attach -- Futures/Forwards/Hedges
a CCPC can have a trading business
MacDonald v. Canada, 2020 SCC 6, [2020] 1 SCR 319 -- attach -- Futures/Forwards/Hedges
cash-settled forward sales were a hedge of a shareholding notwithstanding their settlement without a corresponding share sale and a stated intention to speculate
Placer Dome Canada Ltd. v. Ontario (Minister of Finance), 2006 DTC 6532, 2006 SCC 20, [2006] 1 SCR 715 -- attach -- Futures/Forwards/Hedges
“hedging “ includes cash settled derivatives including options
The Queen v. Macdonald, 2018 FCA 128, aff'd 2020 SCC 6 -- attach -- Futures/Forwards/Hedges
cash-settled forward hedged bloc of shares irrespective of speculative intention
Nigel P.J. Johnston, Roger E. Taylor, "Taxation of Hedges and Derivatives: Recent Developments", 2016 Conference Report (Canadian Tax Foundation), 13:1-36 -- attach -- Futures/Forwards/Hedges
6 October 2017 APFF Financial Strategies and Instruments Roundtable Q. 16, 2017-0705181C6 F - Hedging & George Weston Limited -- attach -- Futures/Forwards/Hedges
CRA is considering changing its policy re what is capital hedge
MacDonald v. The Queen, 2017 TCC 157, rev'd 2018 FCA 128, which was aff'd in turn by 2020 SCC 6 -- attach -- Futures/Forwards/Hedges
“the law still requires a close linkage between the purported hedging instrument and the underlying asset”
2007 Ruling 2007-0246461R3 F - Monétisation d'actions d'une société publique -- attach -- Futures/Forwards/Hedges
cash settlement of monetization contract on capital account
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