This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice (http://www2.deloitte.com/ca/en/legal/cookies.html) for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Redeemable Preferred Shares Issued in a Tax Planning Arrangement - AcSB

Date recorded:

The AcSB began considering responses to its Exposure Draft, “Redeemable Preferred Shares Issued in a Tax Planning Arrangement,” as well as the results of all roundtable discussions with stakeholders, including the additional discussions conducted in January and February 2015 with practitioners and lenders that use financial statements.

The AcSB agreed that redeemable preferred shares issued in a tax planning arrangement (as addressed in Financial Instruments, paragraph 3856.23) meet the definition of a liability.  The AcSB will consider whether there are sufficient cost/benefit considerations to retain equity treatment for certain redeemable preferred shares issued in a tax planning arrangement.

The AcSB also discussed whether further consultations with financial statement users should be undertaken.  No decisions were made on this issue.

The AcSB will continue discussions of this topic at its May 2015 meeting.

Read the executive summary.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.