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In order for the amount of a retiring allowance to be considered reasonable in a non-arms length situation, it should not exceed the amount that would be considered reasonable in an arm's length situation. ... Accordingly, in the above situation and assuming (i) is met, the daughter would be considered financially dependant on the mother and the proceeds from the mother's RRIF would be considered a refund of premiums to the daughter. ... A shareholder's loan which is repaid within one year of the end of the taxation year in which the debt was incurred may be included in income if it is considered to be part of a series of loans and repayments. ...

Whether any particular transaction is considered to be part of a series of transactions depends on the relevant facts and circumstances. ... Based on these statements, most practitioners would have considered the transactions in Hickman Motors Ltd. v. ... All relevant facts will be considered and reference made to the tests and guidelines established by the courts. ...

For greater certainty, for purposes of the determinations described in Paragraphs 42 and 43: (d) any tax accounts such as the balance of any non-capital losses of the Canadian DC Group or the balance of any RDTOH or CDA, if any, will not be considered property; (e) the amount of any deferred or future income tax receivable will not be considered property; (f) advances and loans receivable of the Canadian DC Group, or portions thereof (including those owing from non-arm’s length persons) that (i) are due within the next XXXXXXXXXX, (ii) have no fixed terms of repayment, (iii) are due on demand, (iv) are all advances or loans receivable from the Cash Sweepings, or (v) is the Sister Canco 5 Loan Receivable, will be considered cash or near-cash property; (g) the real properties, leasehold interests in real property, as described in Paragraph 24, and XXXXXXXXXX of the Canadian DC Group, will be considered business property since they are used in business operations; (h) any amount recorded as a capital lease asset for accounting purposes represents only an accounting entry and will not be considered property; (i) income tax instalments and other taxes receivable (excluding HST/GST/PST/QST) within a year, which relate to either an assessment, additional assessment, reassessment or variance thereof received prior to the Canadian DC Transfer, or a return filed for a taxation year for which no assessment, additional assessment, reassessment or variance thereof has been received prior to the Canadian DC Transfer, will be classified as cash or near-cash property. Income and other taxes receivable (excluding HST/GST/PST/QST) that relate to taxation years for which a return has not been filed will not be considered property; (j) HST/GST/PST/QST receivables recorded for financial statement purposes will not be considered property, except to the extent that such balances represent amounts of HST/GST/PST/QST receivable recorded on the financial statements which relate to reporting periods ending prior to the Canadian DC Transfer, for which a return has been filed; (k) Canadian DC will be considered to have Significant Influence over a corporation if it has Significant Influence over that corporation or over any other corporation that has Significant Influence over that corporation, or if Canadian DC in combination with corporations over which it has Significant Influence have Significant Influence over that corporation. ... Following the set-off, each such note will be considered to be paid in full and will be cancelled. ...