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[fn 48: … OECD Commentary… states that the state of residence should grant a credit in situations where a payment is characterized differently for purposes of an applicable treaty under source state and residence state law. …] Creditability where domestic Treaty override (p.9) Where the source state's domestic law expressly provides for taxation in contravention of a treaty, the treaty crediting mechanism would likely not apply (assuming the relevant treaty rule follows the OECD Model, which provides for a credit in respect of tax imposed "in accordance with the treaty"). ... [fn 50: … 2003-0019751E5 ….] Arguably, this analysis could also be applied where foreign tax is imposed in contravention of a treaty under a domestic anti-treaty shopping rule. ...

. … All subscription agreements will generally have a covenant that the PBC will indemnify FTS holders if the tax deductions promised are not delivered.... ... [f.n. 105 Care must be taken in using the escrow approach with the lookback rule. … [I]t may be necessary for the escrow agreement to provide that the amount that the PBC has been spent on or before December 31 of the first year (at the latest) will be released to the PBC in return for FTS, with the remaining unspent amounts being returned to the investors.] …...In such a case, are the investors actually putting their invested funds at risk? ... [f.n. 106 "Revenue Canada Roundtable" … 1988, … question 23…] ...

Steve Suarez, "Canada's 88(1)(d) Tax Cost Bump: A Guide for Foreign Purchasers", Tax Notes International, December 9, 2013, p. 935-- summary under Subparagraph 88(1)(d)(ii.1) Summary Under Tax Topics- Income Tax Act- Section 88- Subsection 88(1)- Paragraph 88(1)(d)- Subparagraph 88(1)(d)(ii.1) Summary of s. 88(1)(d)(ii.1) … Expressed conceptually, the FMV of the partnership interest is deemed to be reduced by an amount representing that portion of the subsidiary's accrued gain on the partnership interest that is attributable to the sum of: the FMV of Canadian or foreign resource property owned by the partnership (directly or through other partnerships); and the difference between the FMV and cost amount of other forms of non-eligible property (for example, depreciable property or inventory) owned by the partnership, either directly or through other partnerships. ... Since the notional gains on the non-eligible property represent five-sixths ($25 / ($5 + $25)) of the total accrued gain ($30), for this purpose the FMV of the partnership interest ($100) is reduced by $25 (five-sixths of the $30 accrued gain on the partnership interest)] This means that the maximum s. 88(1)(d) bump on such partnership interest would be $5 ($75-$70). ...

If an s. 88(3.3) suppression election is not available or used, and an s. 93(1) election is made, then absent further planning, $5,000 (($350 − $300) × 100) is deemed to be a dividend, and there is an s. 113(1)(b) deduction of $3,000, for a resulting taxable income inclusion of $2,000. ... Thus, Canco would claim additional UFT of $667, resulting in an additional deduction of $2,000 ($667 × 3) under s. 113(1)(b), thereby completely eliminating the dividend income. ...

[fn 21: … 2003-0051741R3, 2004, as supplemented by… 2004-0105611R3 …] This policy was adopted when the customary amount of the “interim payments” was not substantial in the context of total project cost. ... Instead, such amounts are income as received …[fn 23 … IT-464R …quoted in … 2012-045508117]. ...

[fn 50: … 2003-0019751E5 ….] Arguably, this analysis could also be applied where foreign tax is imposed in contravention of a treaty under a domestic anti-treaty shopping rule. ...

[See now draft amendment to s 89(1) – CDA – (c.2)(i).] ...

[fn 73: … 2011-0414731E5 …] Assuming that the CRAs interpretation is correct, subsections 112(3) to (7) would not apply in respect of a capital dividend that is deemed to be paid under paragraph 84.1(1)(b). 50% solution addressing s. 112(3.2) (p. 143) [i]t many be preferable to redeem shares owned by an estate through a combination of capital dividends and taxable dividends pursuant to the so-called 50 percent solution strategy. ...

Canada ….. … The difficulty with solely relying on section 12 of the TCC Act,…is that there are situations…in which a downward adjustment is denied but there is no assessment to which the taxpayer has the statutory right to object under section 165 of the ITA. ... [I]n our view, it is not appropriate that the Tax Court have jurisdiction in some circumstances (where the denied downward adjustment is reflected in an assessment to which he taxpayer has filed a notice of objection) but not in others (where the denial does not result in an assessment.) …. ...

Bal Katlai, "Simple Planning Around Outbound Loans Using Tax Incentives", Canadian Tax Highlights, Vol. 27, No. 12, December 2019, p. 9-- summary under Subsection 15(2.11) Summary Under Tax Topics- Income Tax Act- Section 15- Subsection 15(2.11) Example of Canco being able to keep a loan to its NR parent outstanding indefinitely by offsetting PLOI interest by SR&ED credits (p. 9) What if Canco is a technology corporation and can take advantage of the tax credits from scientific research and experimental development (SR & ED)… Consider a hypothetical example of a $1 million loan from Canco to Parentco, which is subject to a subsection 15(2) shareholder benefit…. ... This election will not trigger a deemed dividend and withholding tax, thus saving $150,000 of tax cost… [T]his will result in deemed interest income to Canco of $50,000 (assuming a 5 percent interest rate). … If Canco activities qualify for SR & ED expenses under section 37, Canco will be eligible for non-refundable tax credits of 15 percent at the federal level. … [T]aking advantage of SR & ED and other available business tax credits, when combined with a PLOI election, can provide a simple tax deferral on a shareholder loan. ...