(2.1)-(11)

Subsection 12(2.1) - Receipt of inducement, reimbursement, etc.

Administrative Policy

12 October 2012 External T.I. 2012-0448351E5 - treatment of trailer fee rebates

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) MFT fee rebate 189
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(7.1) MFT fee rebate paid directly to large investor as trust distribution 257

1 February 1994 T.I. 9332265 [MFT management fees rebated by manager to large unitholders produce s. 12(2.1) inclusion]

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Subsection 12(2.2) - Deemed outlay or expense

Administrative Policy

20 May 2014 External T.I. 2013-0516121E5 F - Debt forgiveness

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(x) - Subparagraph 12(1)(x)(iv) BIA settlement of GST interest and penalties included under s. 12(1)(x)(iv) 149
Tax Topics - Income Tax Act - Section 248 - Subsection 248(26) unremitted GST and QST were not obligation "issued" by debtor 94
Tax Topics - Income Tax Act - Section 80 - Subsection 80(1) - Commercial Debt Obligation BIA settlement of unremitted GST interest 121
Tax Topics - Income Tax Act - Section 9 - Forgiveness of Debt BIA settlement of unremitted GST on sales was on capital account 78

7 October 2011 Roundtable, 2011-0412021C6 F - Financing Expenses

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Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(e) - Subparagraph 20(1)(e)(ii.2) CRA will evaluate whether the transactions are "restructuring" 138

90 C.P.T.J. - Q.14

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IT-273R2, "Government Assistance - General Comments," para. 15

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Subsection 12(3) - Interest income

See Also

Tael One Partners Limited v. Morgan Stanley & Co International PLC, [2015] UKSC 12

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Words and Phrases
accrue

Elm Ridge Country Club Inc. v. The Queen, 95 DTC 715 (TCC)

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Administrative Policy

92 C.R. - Q.4

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 51 - Subsection 51(1) no ACB increase for foregone interest 34

17 August 1992, T.I. 921353 (April 1993 Access Letter, p. 135, ¶C20-1141)

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1 August 1990 External T.I. 5-900756 -

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86 C.R. - Q.57

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Articles

Subsection 12(4) - Interest from investment contract

See Also

Peracha v. Miley, [1989] BTC 85 (Ch.D.), aff'd [1990] BTC 406 (C.A.)

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Administrative Policy

20 November 2012 External T.I. 2012-0449671E5 - Accrued Interest Income Reported on T5 Slips

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1997 Ruling 971975

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21 March 1994 T.I. 932840

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Halifax Round Table, February 1994, Q. 6

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28 February 1992 T.I. (Tax Window, No. 17, p. 20, ¶1771)

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84 C.R. - Q.12

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Articles

Subsection 12(9.1)

Subsection 12(10.2) - NISA receipts

Administrative Policy

26 June 2014 External T.I. 2014-0523871E5 F - Revenu d'entreprise agricole

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Farming legume germination production as farming 36
Tax Topics - Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(p) withdrawals from the AgriStability account are taxable as farm business income 163

Articles

Holland, "NISA in a Nutshell", Canadian Current Tax, July 1992, p. A17.

Subsection 12(11) - Definitions

Anniversary Day

Administrative Policy

29 August 1991 T.I. (Tax Window, No. 8, p. 2, ¶1425)

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Investment Contract

Cases

Barejo Holdings ULC v. Canada, 2016 FCA 304

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 94.1 - Subsection 94.1(1) determining whether the notes in Barejo were debt for purposes of the ITA rather than s. 94.1 would be “an improper use of judicial resources” 254

See Also

Moose Factory Restaurant Properties Ltd. v. The Queen, 2019 TCC 156

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Words and Phrases
debt
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 39 - Subsection 39(1) - Paragraph 39(1)(c) arrangements were not structured to give rise to a debt 340

Barejo Holdings ULC v. The Queen, 2015 DTC 1216 [at 1405], 2015 TCC 274, aff'd on other grounds 2016 FCA 304

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Words and Phrases
debt indebtedness
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 94.1 - Subsection 94.1(1) "notes" which tracked actively-managed reference pool of assets were "debt" and "indebtedness" 176
Tax Topics - Income Tax Act - Section 95 - Subsection 95(1) - Investment Property "notes" which tracked actively-managed reference pool of assets were "debt" and "indebtedness" 176
Tax Topics - Statutory Interpretation - Interpretation Act - Section 8.1 quaere whether there is a federal law of "debt" or "charity" 320

Delle Donne v. The Queen, 2015 TCC 150

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 171 - Subsection 171(1) reserve could be claimed on appeal 82
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(l) doubtful debt reserve claimed implicitly as at the year end in light of subsequently revealed information 477
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(p) - Subparagraph 20(1)(p)(i) bad debt deduction taken as at Dec. 31 in light of information available at April 30, and could be claimed implicitly or on appeal 452

Cloutier-Hunt v. The Queen, 2007 DTC 947, 2007 TCC 345 (Informal Procedure)

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Words and Phrases
obligation debt

Re Central Capital Corporation (1996), 27 OR (3d) 494 (C.A.)

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Canada Deposit Insurance Corp. v. Canadian Commercial Bank, [1992] 3 S.C.R. 558

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Words and Phrases
loan

Fingold v. MNR, 92 DTC 2011 (TCC)

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Words and Phrases
debt
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 80.4 - Subsection 80.4(1) 67

Acmetrack Ltd. v. Bank Canadian National (1984), 4 PPSAC 199 (Ont CA)

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Words and Phrases
debenture

Re Rollies' Sport and Marine (1974) Limited (1984), 14 BLR 41 (Ont HCJ)

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Walsh Estate v. Minister of Finance (B.C.), [1979] CTC 251, at 257 (BCSC)

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Words and Phrases
debt

Canadian Imperial Bank v. McFadzean (1978), 5 WWR 751

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Alberta and Southern Gas Co. Ltd. v. The Queen, 76 DTC 6362, [1976] CTC 639 (FCTD), aff'd 77 DTC 5244 [1977] CTC 388 (FCA), aff'd 78 DTC 6566, [1978] CTC 780, [1979] 1 S.C.R. 36

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Words and Phrases
loan

Guay Estate v. The Queen, 75 DTC 5090 (FCTD)

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Words and Phrases
debt

Law v. Cobourn (Inspector of Taxes), [1972] 1 WLR 1238 (Ch D)

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Pizzolati & Chittaro Manufacturing Co. Ltd. v. May et al., [1971] 3 OR 768 (Ont HCJ)

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Beament Estate v. MNR., 69 DTC 5016 (Ex Ct), rev'd [1970] S.C.R. 680

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Jamison v. United States (1968), 207 F. Supp. 221 (US Dist Ct (N.D. Calif))

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Standard Oil Company of British Columbia Limited v. Wood (1964), 47 W.W.R. 494 (B.C. County Ct.)

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International Power Co. v. McMaster University / In re Puerto Rico Power Co., [1946] S.C.R. 178, [1946] 2 DLR 81

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Diewold v. Diewold, [1941] S.C.R. 35

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Noble v. Lashbrook, 40 DLR 93, [1918] 1 WWR 918 (Sask CA)

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Words and Phrases
debt

The King v. Findlater, [1939] 1 KB 594 (CA)

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Sharpe v. First Nat. Bank of Antigo (1936), 220 Wis. 506, 264 N.W. 245 (Sup Ct of Wisc)

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Passaic Nat. Bank & Trust Co. v. Eelman (1936), 183 Atlantic Reporter 677, 116 N.J. 279 (Sup Ct of NJ)

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State ex rel. City of Hannibal v. Smith (1934), 74 S.W. (2d) (Sup Ct of Missouri)

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Lyall & Sons Construction Co. v. Baker, [1933] 2 DLR 264 (Ont CA)

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Words and Phrases
debt

Dupuis Frères Ltd. v. Minister of Customs and Excise (1927), 1 DTC 104 (Ex Ct)

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Lemon v. Austin Friars Investment Trust Ltd., [1926] 1 Ch 1 (CA)

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Words and Phrases
debenture

In re Touquoy Gold Mining Co. (1906), 1 E.L.R. 142 (Nova Scotia)

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Words and Phrases
loan borrowing

Mail Printing Company v. Clarkson (1898), 25 OAR 1 (Ont CA)

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Levy v. Abercorris Slate & Slabe Co. (1887), 37 Ch. D. 260, [1886-90] All ER 509

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Webb v. Stenton (1883), 11 QBD 518 (CA)

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Pickering v Ilfracombe Rv Co (1868), LR 3 CP 235, 37 LJCP 118, 16 LT 650, 10 WR 458 (Ct of Common Pleas)

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Administrative Policy

4 February 2015 External T.I. 2015-0565741E5 - Canadian-controlled private corporation

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Words and Phrases
indebtedness
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 251 - Subsection 251(5) - Paragraph 251(5)(b) s. 256(5)(b) applied to acquisition right upon default under indemnity 153
Tax Topics - Income Tax Act - Section 256 - Subsection 256(6) s. 256(6) does not protect a company's CCPC status where its shares are pledged to a pubco to secure an indemnity, not debt 209

19 June 2014 External T.I. 2014-0519881E5 - T5 reporting requirements

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Locations of other summaries Wordcount
Tax Topics - Income Tax Regulations - Regulation 201 - Subsection 201(4) debenture with interest payable on 1-year maturity not an investment contract 155

29 August 2011 Internal T.I. 2009-0336671I7 - Derivative

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Words and Phrases
loan
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 9 - Timing 185

24 March 2005 Internal T.I. 2005-0115921I7 - Specified debt obligations & loan originating cost

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17 February 1993 Memorandum 93020

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March 1991 T.I. (Tax Window, No. 1, p. 15, ¶1138)

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1 August 1990 External T.I. 5-900756 -

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 12 - Subsection 12(3) 52

26 April 1990 T.I. (September 1990 Access Letter, ¶1443)

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84 C.R. - Q.12

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 12 - Subsection 12(4) 40

Articles

C.R.B. Dunlop, Creditor-Debtor Law in Canada, Second Edition (1994).

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Tax Topics - General Concepts - Payment & Receipt 582

Kevin Kelly, "Callable and Extendible Step-Up Notes", Corporate Finance, Vol. XI, No. 4, 2004, p. 1127

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