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. 5-8521 |
| |
Maureen Shea-DesRosierss |
| |
(613) 957-8953 |
September 26, 1989
Dear Sirs:
Re: Designated income of a trust as defined in subsection 210.2(2) of the Income Tax Act (the "Act)
This is in reply to your letter of August 11, 1989 concerning the above-mentioned subject.
You enquire as to whether the income of a unit trust (which would qualify as a mutual fund trust but for the dispersal requirements contained in subsection 132(6) of the Act) which offers its units to the public would not constitute designated income from business carried on in Canada within the meaning of subsection 210.2(2) of the Act.
We regret we are unable to answer your query since more information would be needed such as whether the beneficiaries under the trust are to be considered designated beneficiaries within the meaning of section 210 of the Act, what type of trust is involved, etc, to determine whether the income of the trust will constitute "designated income" from businesses carried on in Canada within the meaning of subsection 210.1(2) of the Act.
Yours truly,
for DirectorFinancial Industries DivisionRulings Directorate
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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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