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 CCRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ADRC.
Principal Issues: Whether paragraph 93.1(2)(d)(i) of the Act permits the partner a deduction equal to his share of the gross amount of the dividends received by the partnership?
Position: Yes.
Reasons: Based on administrative practice of the CCRA (see paragraph 4 of IT-138R - even though that bulletin has been withdrawn, the position in paragraph 4 still stands) and the policy intent of that subparagraph.
XXXXXXXXXX 2001-011167
S. Leung
September 6, 2002
Dear XXXXXXXXXX:
Re: Subparagraph 93.1(2)(d)(i) of the Income Tax Act (the "Act")
We are writing in reply to your letter of November 7, 2001, in which you requested our view as to whether subparagraph 93.1(2)(d)(i) of the Act permits the partner a deduction equal to his share of the gross amount of the dividends received by the partnership. We apologize for the delay in responding.
You noted that the Department of Finance in its response to question 30 at the 2000 APFF Conference Round Table indicated that the limitation is the gross amount of the dividends included for the purposes of determining the partner's income of the partnership. You enquired whether the Canada Customs and Revenue Agency (the CCRA) intends to interpret subparagraph 93.1(2)(d)(i) of the Act in a manner consistent with the view of the Department of Finance.
The CCRA will interpret that subparagraph in a manner consistent with the view of the Department of Finance noted above.
Yours truly,
for Director
International and Trusts Division
Income Tax Rulings Directorate
Policy and Legislation Branch
??
All rights reserved. Permission is granted to electronically copy and to print in hard copy for internal use only. No part of this information may be reproduced, modified, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, or stored in a retrieval system for any purpose other than noted above (including sales), without prior written permission of Canada Revenue Agency, Ottawa, Ontario K1A 0L5
© Her Majesty the Queen in Right of Canada, 2002
Tous droits réservés. Il est permis de copier sous forme électronique ou d'imprimer pour un usage interne seulement. Toutefois, il est interdit de reproduire, de modifier, de transmettre ou de redistributer de l'information, sous quelque forme ou par quelque moyen que ce soit, de facon électronique, méchanique, photocopies ou autre, ou par stockage dans des systèmes d'extraction ou pour tout usage autre que ceux susmentionnés (incluant pour fin commerciale), sans l'autorisation écrite préalable de l'Agence du revenu du Canada, Ottawa, Ontario K1A 0L5.
© Sa Majesté la Reine du Chef du Canada, 2002
Email this Content