CRA modifies Income Tax Folio S3-F6-C1, Interest Deductibility

Income Tax Folio S3-F6-C1, which contains the CRA’s position on interest deductibility, has been modified in respect of deductibility under subparagraph 20(1)(c)(ii) of the Income Tax Act (Canada) in the context of substituted property.

Prepared by: Asif Abdulla

Asif Abdulla is a partner working out of the Vancouver office of Thorsteinssons LLP. He practices in the area of domestic and international tax planning for individuals, trusts, corporations and other private enterprises with a view to achieving tax efficiency… more »

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