89 C.M.TC - Q.4

for the 1989 and prior years, RC will accept that an interest buy-down payment which is made in the middle of a mortgage term and which was not provided for in the mortgage document, is prepaid interest. [C.R: 18(1)(b) - "Capital expenditure v. expense"]

The RCT policy to permit a joint venture to establish its own fiscal period is intended to apply primarily to the situation where the participants in a joint venture have different fiscal periods, or the same fiscal period but valid business reasons for a different joint venture fiscal period.

The joint venture fiscal period will end at the time of disposition of all its property.