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.
D. Hartman (613) 957-2120
MAR 1 1989
Re: Subsection 85(1) of the Income Tax Act (Canada) (the "Act")
This is in response to your letter of January 13, 1989, wherein you requested information with respect to the completion of prescribed form T2057 filed in respect of an election made pursuant to subsection 85(1) of the Act.
You questioned whether on page 2 of the form, share consideration received by the vendor should be detailed under the heading "Consideration Received".
It is our understanding that share consideration should be detailed on both page 1 in the area entitled "Description of Shares Received" and on page 2 under the title "Consideration Received".
Yours truly,
for Director Reorganizations and Non-Resident Division Specialty Rulings Directorate Legislative and Intergovernmental Affairs Branch
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© Her Majesty the Queen in Right of Canada, 1989
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© Sa Majesté la Reine du Chef du Canada, 1989
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