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. 5-8904 |
| |
D.S. Delorey |
| |
(613) 957-3495 |
November 14, 1989
Dear Madam:
This is in reply to your letter of October 13, 1989 concerning the attribution rule in subsection 56(4.1) of the Income Tax Act.
Where an individual has loaned property and the circumstances are such that the provisions of subsection 56(4.1) apply to attribute income from the property to the individual, it is our view that the attribution does not apply to such income that relates to a period following the death of the individual.
The above comments reflect an expression of opinion only and as such, they are not binding on the Department. We trust however that they will be of assistance.
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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