Principal Issues: Are derivatives such as forward contracts, futures, swaps and options considered to be "investments" for purposes of subparagraph 149(1)(o.2)(iii) of the Income Tax Act?
Position: Question of fact.
Reasons: Provided the particular derivative is a permissible investment under the PBSA, 1985 or a similar law of a province, then yes.
XXXXXXXXXX 2005-016291
G. Allen
August 14, 2006