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Raj Juneja, "Taxation of equity derivatives", 2015 CTF Annual Conference paper-- summary under Paragraph 212(1)(d) Summary Under Tax Topics- Income Tax Act- Section 212- Subsection 212(1)- Paragraph 212(1)(d) Non-application to equity swaps (p. 17:20) The CRA has taken the position that where a Canadian resident borrower of a security pays a lending or borrowing fee to a non-resident as part of a securities lending agreement that is not governed by section 260, the fee would generally be considered to be for the use of or the right to use property in Canada and fall within 212(l)(d) [f.n.26...9530420...]. ...

Since once a dividend on any type of shares is declared, the issuer would generally be considered under most corporate law to have an obligation to pay the dividend, it appears that most types of shares, not just shares with "debt-like" characteristics, may satisfy the first part of the conditions for the application of the Character Substitution Rules. ...

. … A beneficiary who executes a valid disclaimer in respect of property to be received under a will is considered never to have received the property. ...

Similarly, in Re Halsted's Will Trusts, [fn 61: [1937] 2 AII ER 570 (Ch.D.).] the court considered a direction by a testator that part of his residuary estate be held on trust to pay the income therefrom to one of his sons, and that after the son's death it revert to the testator's estate….The court held that the trustees had the power to settle the amount on a new trust for the benefit of the son during his lifetime and, following his death, for the benefit of his wife and child, concluding that the power of advancement could be exercised to benefit the named beneficiary's family members on the basis of this provision. ...

[fn 106: 2003-0000695 …See also… 2004-0062121E5] This conclusion appears to be correct; when the trust has distributed the property subject to an accrued gain to the beneficiary the gain on the distribution has arguably been paid because the trust no longer has the property to distribute, and the beneficiary to which the distribution was made is the person who should be considered to have received it. ...

However, such release or surrender would not generally be viewed as increasing the capital of the trust nor will it be considered as a contribution to the trust. … ...

The corporation is then considered to have paid $150 under subsection 127.41(3) on account of its tax payable under part I. ...

Trusts supporting the arts are also considered to be charitable as being for the advancement of education. ...

Any dividends paid by the corporation will be considered ineligible dividends for federal and Quebec purposes because they are not paid out of the general rate income pool (GRIP), which is only federally defined. ...

In all three scenarios, we considered dividends paid to adult family members as not being subject to the TOSI, for individuals where: the employment income based on the T4 slip issued by a family owned- CCPC was above a $15,000 threshold; if they were 25 years of age or older, they owned at least 10 per cent of the shares of a family- owned CCPC that was not in the service or professional sector; they were the spouse of a primary owner aged 65 or over. ...