The Canadian Revenue Agency (CRA) has published Income Tax Folio Chapter S3-F6-C1: Interest Deductibility. The tax folio chapter explains the CRA’s position on the deductibility of interest expense under paragraph 20(1)(c) of the Tax Act, as well as other provisions of the Act relating to interest deductibility. It is effective 6 March 2015, and replaces and cancels Interpretation Bulletin IT-5…