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Redeemable Preferred Shares – PEAC

Date recorded:

At its meeting on May 3, 2018, the PEAC continued discussing feedback from outreach activities and response letters on the Exposure Draft. Committee members advised the Board to:

  1. provide an option to present the effect of liability classification of retractable or mandatorily redeemable shares in either retained earnings or a separate component of equity;
  2. provide guidance on assessing whether a tax planning arrangement undertaken in a series of steps should be viewed as one tax planning arrangement; and
  3. clarify whether the decision tree in Financial Instruments, paragraph 3856.A29 also applies to retractable or mandatorily redeemable shares issued in a tax planning arrangement.

Review the meeting notes on the AcSB's Web site.

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