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. … [If] the expenses [were] incurred voluntarily or with the intention of discharging a legal obligation made to restore a site or repair environmental damage that was caused directly by the company's operations … [then] those expenses would generally be considered a cost of doing business. ...

Accordingly... the interest in LLC1 cannot be considered as a share for which XXXXXXXXXX A Shares of USCo1 were substituted for the purpose of determining Element B. ... [T]he Preferred Interest in LLC2 cannot be considered as a share for which USCo1's XXXXXXXXXX Class B Shares were substituted for the purpose of the application of Element B. ... Furthermore... the wording of element B does not support the amounts of the dividends received by Canco3 in respect of the Preferred Interest it held in LLC2 being indirectly considered for purposes of the application of the rules. ...

If discounts or rebates are considered to be amounts received by a taxpayer in order to earn business or property income, we are of the view that paragraph 12(1)(x) could apply.... ...

In this respect, a debenture issued prior to January 1, 2010 but modified on or after that date will be considered issued on or after January 1, 2010. ...

In response to a query as to whether, where "the indebtedness with respect to a specific creditor was terminated as a result of such restructuring process…such expenses can be considered to relate ‘solely to the year' and, therefore, be eligible for deduction pursuant to paragraph 20(1)(e.1)," CRA stated: Paragraph 20(1)(e.1) of the Act provides that, notwithstanding paragraph 20(1)(e), certain financing expenses that relate only to the year they are incurred are deductible in that year. ...

CRA found that s. 17(8)(a)(ii) was not available as the Debt would not be considered to be a loan to the second CFA. ...

The sum received by Amalco was considered to be a capital receipt (and, therefore, as proceeds of disposition of the Advisory Agreement) given that the terminated contract had given rise to substantially all (in the case of XCo) or a substantial portion (in the case of YCo) of the revenues that, prior to termination, had been earned by the two advisors. ...

The benefit to a shareholder-employee is generally considered to be derived in his or her capacity as shareholder and is taxable as a shareholder's benefit under subsection 15(1) if: (a) the shareholder-employee controls the corporation or is one of a related group that controls the corporation or any affiliated corporation, and (b) there is extensive use of the aircraft for personal purposes by the shareholder-employee or, because of the latter's position, by relatives or friends of the shareholder-employee. ...

Therefore, in this case, since we have a loan to Sisterco as the underlying transaction, the loan would be considered on capital account since it was for the purpose of paying a dividend. ...

After comparing these facts with Dickie v The Queen, 2012 TCC 242, CRA stated: The extent to which the managerial activities, not just those of the Taxpayers, were performed on a reserve will need to be considered. ...