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.
MINISTER/DM'S OFFICE 95-05200M
ADM'S OFFICE
RETURN TO RULINGS, 15th Floor, Albion Tower
September 11, 1995
XXXXXXXXXX
Dear XXXXXXXXXX:
I am writing in response to your letter about the proposed elimination of the deferral of tax on business income, as announced in the February 1995 budget. I received your letter on July 19, 1995.
I have noted your concerns about the impact of the proposal on businesses. These concerns relate to tax policy, which is the responsibility of the Department of Finance. I have therefore forwarded a copy of your letter to my colleague, the Honourable Paul Martin, Minister of Finance, so that he may be made aware of your comments.
I am, however, pleased to advise you that in a press release issued on July 19, 1995, a copy of which I am enclosing, Mr. Martin announced that the government has consulted with taxpayers and their elected representatives concerning this particular proposal. As a result of these consultations, several modifications have been incorporated in the draft legislation. In response to the concerns of taxpayers who have valid non-tax reasons for having an off-calender fiscal period, Mr. Martin announced that the government will provide an alternative method of calculating income. Proposed legislation to implement this alternative method will be tabled in the House of Commons in the fall.
I appreciate being made aware of your concerns.
Yours sincerely,
David Anderson, P.C., M.P.
C.C. The Honourable Paul Martin, P.C., M.P.
Minister of Finance
Bill Kerr
957-2137
4-951984
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© Her Majesty the Queen in Right of Canada, 1995
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© Sa Majesté la Reine du Chef du Canada, 1995
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