Munich Reinsurance Co. (Canada Branch) v. The Queen, 2000 DTC 2009 (TCC) -- summary under Subparagraph 212(1)(b)(ii)

By services, 28 November, 2015

Refund interest earned by the taxpayer as a result of overpayments of tax would not have qualified for exemption under s. 212(1)(b)(ii)(c). Bowman TCJ. stated (at p. 2014):

"'Similar obligation' is ejusdem generis with the types of negotiable and transferable securities and commercial instruments issued by the government."

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Income Tax Act - s. 212(1)(b)(ii)
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