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Because Parentco remained liable for the entirety of the assumed debt as co-obligor and because there was neither a novation of the original debt nor a rescission, one might wonder why Parentco would be considered to have realized a gain.... ... [I]n Income Tax Technical News no. 38, the CRA stated: [W]here U.S. dollar denominated loans are repaid with newly borrowed U.S. dollars…a taxpayer will be considered to have "made a gain" or "sustained a loss"…. ...

[Finance’s] commentary associated with the application of the strategic business expansion exception in subsection (16) … would imply that the deeming rule under 212.3(25) is not intended to supplant any party who would otherwise be considered to have control in the absence of such deeming rule…. ... Non-application of GAAR re above planning (pp. 15-16) Canadian case law suggests that the selection of a general partner should not be considered a “transaction” for purposes of the GAAR…. ...

., the Court apparently considered that the characterization of the income inclusion does not matter so long as the transactions at issue do not result in the creation or preservation of PUC contrary to the intention of the Act. ... Key points arising under the surplus-stripping jurisprudence (pp. 29-31) First, as per Wild, non-arm’s-length transactions that use the PUC averaging rules to shift PUC within a particular share class of shares to shares held by an individual from shares held by other shareholders who are PUC- indifferent may be considered an abuse of the Act. ...

Excessive benefits standard (p. 483) If it is determined that a retirement arrangement does provide excessive benefits, it will be considered an SDA even if it otherwise meets the conditions set out in the RCA [retirement compensation arrangement] definition…. ...

Typically, "services" are considered as relating to awards being granted by the employer, as opposed to particular assets held in a trust. ...

Xiao, "The 88(1)(d) Bump – An Update", 2013 Conference Report (Canadian Tax Foundation), pp.13:1-60-- summary under Clause 88(1)(c.2)(iii)(A.2) Summary Under Tax Topics- Income Tax Act- Section 88- Subsection 88(1)- Paragraph 88(1)(c.2)- Subparagraph 88(1)(c.2)(iii)- Clause 88(1)(c.2)(iii)(A.2) Remedying under s. 88(1)(d)(c.2)(iii)(A.2) of pre-winding-up agreement for sale of bumped shares [P]rior to the [s. 88(1)(d)(c.2)(iii)(A.2)] amendment, subsidiaries of Target were considered to be specified shareholders of Target whenever Target had a controlling shareholder. ...

Exception where gap in application of s. 95(2)(a) (pp. 695-6) While a debt to which clause 95(2)(a)(ii)(B) or (D) applies should, in most cases, not be considered a commercial debt obligation, that may not be the case where those rules cease to apply for a period of time…. ...

An openness to considering foreign judgments is beneficial for a number of reasons: a well-reasoned foreign decision that has considered similar issues may provide analytical guidance. ...

Accordingly, planning to utilize or move other more valuable tax attributes prior to the debt forgiveness should be considered. ...

Subsection 248(26) provides, inter alia, that for the purpose of applying the provision of the ITA relating to the treatment of the debtor in repect of the liability, any amount that a debtor becomes liable to pay that is otherwise deductible in computing the debtor's income will be considered to be an obligation issued by the debtor having a principal amount equal to the amount of the liability. … [T]o conclude that any such obligation constitutes a commercial debt obligation, one must conclude that interest would be deductible if it were payable on the obligation. ...