CRA maintains its position that redeemable prefs are equity for thin cap purposes

CRA has confirmed its position that (absent something wonky which it has not seen) it will treat redeemable preferred shares as equity rather than debt for thin cap purposes notwithstanding the proposals in the new ASC Exposure Draft.

Neal Armstrong. Summary of 19 September 2015 STEP Roundtable, Q.3 under s. 18(5) – equity amount.