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.
Principal Issues: Where a partnership is not a tax shelter and all of its members are professional corporations, what is the filing due date of the partnership information return.
Position: Five months from the end of the fiscal period of the partnership.
Reasons: 229(5)(a) ITR
XXXXXXXXXX
2012-044015
R. Ferrari
April 24, 2012
Re: Filing due dates for certain partnership information returns
Dear XXXXXXXXXX :
This is in reply to your email of March 17, 2012 with respect to the filing due date for a partnership information return. You have indicated that the partnership is not a tax shelter and that all the members of the partnership are professional corporations throughout the fiscal period of the partnership.
In the circumstances described, a partnership information return is required to be filed pursuant to section 229 of the Income Tax Regulations (the “Regulations”). You have asked for confirmation of the filing due date of the partnership information return.
Our Comments
Subsection 229(5) of the Regulations sets out the date by which the information return referred to in subsection 229(1) of the Regulations must be filed. Based on the information provided, paragraph 229(5)(a) would be relevant. It provides, subject to subsection 229(6), that where all the members of a partnership are corporations throughout the fiscal period of the partnership, the due date for filing the information return is within five months from the end of the fiscal period of the partnership.
We trust the above will be of assistance.
Yours truly,
G. Moore
for Director
Business and Trusts Division
Income Tax Rulings Directorate
Legislative Policy and Regulatory Affairs 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, 2012
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, 2012