Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
Principal Issues:
Whether an individual earning rental income would qualify to file a return of income for the June 15th filing deadline?
Position: The June 15th filing deadline is for individuals who carried on a business in the year.
Reasons: Where rental income is characterized as business income, the June 15th deadline would apply.
XXXXXXXXXX Frank Gillman, LL.L., C.A.
2001-006885
March 28, 2001
Dear XXXXXXXXXX:
Re: Rental Income
This is in reply to your letter of January 8, 2001, wherein you requested our opinion whether a self-employed individual earning rental income would qualify to file a return of income for the June 15th filing deadline.
Paragraph 150(1)(d)(i) of the Income Tax Act (the "Act") requires an individual taxpayer to file a return of income for each taxation year of the taxpayer on or before the following April 30. Where an individual carries on a business in the year, paragraph 150(1)(d)(ii) of the Act extends this deadline to, on or before the following June 15. Since rental income is normally considered to be income from property and not from carrying on a business, the extension for filing a return of income would not be available in such cases.
We trust that our comments have been of assistance.
John Oulton, CA
for Director
Business and Partnership Division
Income Tax Rulings Directorate
Policy and Legislation Branch
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