A foreign currency debt obligation must, pursuant to s. 261(2), be converted to Canadian currency for the purposes of determining "the price for which the obligation was transferred" and "the price for which the obligation was issued" under s. 214(7). The conversions must use the relevant spot rate for the day of transfer and issue, respectively. Therefore, an increase in the Canadian dollar value of the other currency between those two days can lead to a deemed interest payment under s. 214(7) if the obligation is not an excluded obligation.
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d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
307546
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
343761
Extra import data
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