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.
| 19(1) |
File No. 5-7366 |
| |
J.D. Jones |
| |
(613) 957-2104 |
June 6, 1989
Dear Sirs:
Re: Technical Interpretation Request Section 67.1 of the Income Tax Act (the "Act")
This is in reply to your letter of January 6, 1989, wherein you requested a technical interpretation with respect to the above-noted subject. We apologize for the delay in replying.
The types of situations to which the exclusion in paragraph 67.1(2)(e) of the Act was intended to apply are mentioned in the June, 1988 "Explanatory Notes to Legislation Relating to Income Tax" issued by the Minister of Finance. The Department's general position of the subject is now set out in Interpretation Bulletin IT-518 dated March 28, 1989.
At this time we are unable to provide you with a definitive reply with respect to the specific situation raised in your letter. We will review the matter further and make the Department of Finance aware of the points you have raised.
We regret that we are unable to be of greater assistance at this time.
Yours truly,
for Director Small Business and General DivisionSpecialty Rulings DirectorateLegislative and IntergovernmentalAffairs 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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