Section 214

Subsection 214(1) - No deductions

Administrative Policy

93 C.P.T.J. - Q.27

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Subsection 214(3) - Deemed payments

Paragraph 214(3)(a)

Cases

Gillette Canada Inc. v. The Queen, 2001 DTC 895 (TCC)

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See Also

Minet Inc. v. The Queen, 96 DTC 1405 (TCC)

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Florsheim Inc. v. The Queen, 95 DTC 110 (TCC)

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Industries P.W.I. Inc. v. MNR, 93 DTC 852 (TCC)

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Administrative Policy

16 August 2017 Internal T.I. 2015-0622751I7 - Part XIII Tax on Benefit to Non-resident

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 15 - Subsection 15(9) s. 15(9) applies to interest-free loan between two foreign affiliates 257
Tax Topics - Income Tax Act - Section 160 - Subsection 160(1) use of s. 160 to collect s. 15(9) liability of indirect FA on dividends paid to Canco 269
Tax Topics - Income Tax Act - Section 215 - Subsection 215(1) CFA liable for failure to "withhold" and remit Pt XIII tax on interest-free benefit on loan to NR sister of its Cdn grandparent 122
Tax Topics - Income Tax Act - Section 227.1 - Subsection 227.1(1) s. 227.1 liability can extend to NR directors of a CFA 168
Tax Topics - Income Tax Act - Section 80.4 - Subsection 80.4(2) extra-territorial application of s. 80.4(2) 132

19 October 2012 External T.I. 2012-0440071E5 - Section 67 of the Income Tax Act

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 67 correlative income reduction to recipient where s. 67 denial 152

5 October 2012 Roundtable, 2012-0451241C6 F - Benefit conferred on a NR shareholder by a NR corp

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 15 - Subsection 15(7) s. 15(7) assists in determining that s. 15 can apply to the NR shareholder of a NR corporation gratuitously using the corporation’s Canadian property 61
Tax Topics - Income Tax Act - Section 247 - New - Subsection 247(2) s. 247(2) could apply to produce s. 212(1)(d) withholding where the NR shareholder of a NR corporation gratuitously uses Canadian corporate property 80

19 November 1999 TI 973234

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IT-119R4,"Debts of Shareholders and Certain Persons Connected with Shareholders", 7 August 1998

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Articles

Michael N. Kandev, "NIB Loan to Non-FA-Related Non-Resident", Canadian Tax Highlights, Vol.26, No. 4, April 2018, p. 5

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Subsection 214(7) - Sale of obligation

Administrative Policy

14 January 2011 External T.I. 2004-0098601E5 - Foreign currency borrowings and ss 214(7) and (8).

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1 May 2009 IFA Roundtable Q. 12, 2009-0320231C6 F - Convertible Debt Obligations

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 212 - Subsection 212(3) - Participating debt interest no deemed interest on conversion of traditional convertible debenture 181

Income Tax Technical News, No. 41, 23 December 2009 Under "Convertible Debt", Q. 2

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 212 - Subsection 212(3) - Participating debt interest convertible premium taints all other interest 30

88 C.R. - "Finance and Leasing" - "Interest" - "Amounts Paid on Redemption of Bonds or Purchase of Bonds in the Open Market"

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Articles

David W. Ross, "Convertible Debentures - Principal Amount", Resource Sector Taxation, (2006) Vol. IV, No. 2, p. 280.

Subsection 214(7.1) - Idem [Sale of obligation]

Articles

Broadhurst, "Financing by Non-Residents", 1992 Corporate Management Tax Conference Report, p. 9:19

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Subsection 214(8)

Paragraph 214(8)(a)

Administrative Policy

88 C.R. - "Finance and Leasing" - "Withholding Tax"

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Related Provisions

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Paragraph 214(8)(c)

Administrative Policy

26 November 2013 Annual CTF Roundtable, 2013-0509061C6 - Part XIII Tax & Standard Convertible Debentures

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 212 - Subsection 212(3) - Participating debt interest interest and premium on standard convertible debenture not participating 105

14 January 2011 External T.I. 2004-0098601E5 - Foreign currency borrowings and ss 214(7) and (8).

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 214 - Subsection 214(15) 91
Tax Topics - Income Tax Act - Section 214 - Subsection 214(7) FX movements can cause deemed interest 87
Tax Topics - Income Tax Act - Section 261 - Subsection 261(2) principal amount converted at historical rate 105

Income Tax Technical News, No. 41, 23 December 2009 Under "Convertible Debt"

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13 December 1995 T.I. 953013 (C.T.O. "Meaning of 'Excluded Obligation'")

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Articles

Julie Colden, "Implications of Imperial Oil", Canadian Current Tax, Vol. 15, No. 3, December 2004, p. 21.

Subsection 214(15) - Standby charges and guarantee fees

Cases

R. v. Melford Developments Inc., 82 DTC 6281, [1982] CTC 330, [1982] 2 S.C.R. 504

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Words and Phrases
interest

Administrative Policy

14 January 2011 External T.I. 2004-0098601E5 - Foreign currency borrowings and ss 214(7) and (8).

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6 May 2003 External T.I. 2003-001414 -

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26 November 1996 T.I. 963464 (C.T.O. "Standby and Funding Fees")

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90 C.R. - Q.47

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 246 - Subsection 246(1) 39

88 C.R. - F.Q.25

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Articles

Loveland, "Income Tax Impediments to Foreign Investment in Canada", 1982 Conference Report, p. 666 at pp. 690-693.

Paragraph 214(15)(b)

Administrative Policy

30 March 2017 Internal T.I. 2016-0636721I7 - Consent fees and withholdings

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 212 - Subsection 212(4) - Paragraph 212(4)(a) consent fee was not for “advice or direction pertaining to the operation or administration of a company” 153
Tax Topics - Income Tax Regulations - Regulation 105 - Subsection 105(1) non-resident dealer who attended at Canadian board meetings was rendering services in Canada 168

Subsection 214(16) - Deemed dividends

Administrative Policy

5 October 2017 Internal T.I. 2015-0614021I7 - 214(16) deemed dividend

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 95 - Subsection 95(1) - Foreign Accrual Property Income - Paragraph (b) s. 214(16) does not recharacterize interest as dividends for FAPI purposes 101

23 May 2013 IFA Round Table Q. 7

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Example

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Paragraph 214(16)(a)

Articles

Carrie Smit, "Thin Capitalization Amendments – Denied Interest May be Subject to Withholding Tax", CCH, Tax Topics, No. 2114, September 13, 2012, at p. 3.

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Paragraph 214(16)(b)

Administrative Policy

5 October 2018 APFF Roundtable Q. 1, 2018-0768721C6 F - Procedure re: refund of excess w/h under Part XIII

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 227 - Subsection 227(5) withholding on interest that does not reflect the benefit of a subsequent s. 214(16)(b) designation can be recovered only on a s. 227(5) annual basis 237