On February 17, 2016, the CRA released 2015-0617731E5 “55(2) and creditor proofing”. The CRA was asked (in French) whether the July 31, 2015 legislative proposals to amend 55(2.1)(b)(ii) of the ITA would apply in a situation of creditor proofing by way of the payment of a dividend equal to the value of the operating corporation and the lending of the amount of the dividend to the operating corporation. The CRA commented that because the payment of the dividend would be to effect a significant reduction in the fair market value of the shares of the capital stock of the operating corporation, newly proposed 55(2.1)(b)(ii) would apply.