In 2014-0541921E5, the CRA said that no debt forgiveness should arise under s. 80 if a debtor has a contingent right to reduce a commercial debt obligation, where it is reasonable to conclude (having regard to all the circumstances) that the right will become exercisable. Where such a contingent right to reduce exists, s. 143.4 should apply to reduce the expenditures that were funded by the debt obligation. The debt obligation would be considered an “excluded obligation” under subparagraph (a)(ii) or (iii) of the definition of that term in s. 80(1), with the result that debt forgiveness should not arise under s. 80 when the debt obligation is ultimately settled or extinguished in law.