Principal Issues: Whether the application of new accounting standards in sections 1530 and 3955 of the CICA Handbook, will result in some assets of a corporation which may have previously been treated as Specified Debt Obligations (SDOs) for tax purposes, now being treated as Mark-to-Market Property(MTMP) for purposes of the Act.
Position: This would appear to be the case.
Reasons: Words in paragraph (b) of the definition of "mark-to-market property" in subsection 142.2(1) of the Act.
