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. 5-8054 |
| |
M. Eisner |
| |
(613) 957-2138 |
July 21, 1989
Dear Sirs:
This is in reply to your letter of May 3, 1989 concerning changes to loss carryforward applications.
With respect to this issue, the Department will generally accede to a request to substitute one type of loss for another provided the request can be processed within the time limits specified under paragraph 152(4)(c) and the taxpayer is eligible to have the loss applied in the manner requested. We note that it is not necessary that the taxpayer be in a NIL taxable position for a substitution of losses to be made.
We trust you will find the foregoing satisfactory.
Yours truly,
for DirectorSmall 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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