13 December 1989 Administrative Letter 59056 F - Partnership Election

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.

SUBJECT:  Partnership Election Subsections 13(7.4) and 53(2.1)

Enclosed is correspondence from 19(1) relating to elections to be made under subsection 13(7.4) and 53(2.1).  As an administrative position is required to facilitate this election and this appears to be your Division's prerogative, we expect you will want to advise 19(1)  directly, as you did in the attached letter to 19(1)  with respect to a similar election under subsection 13(7.4).

DirectorFinancial Industries DivisionRulings Directorate

Attachment

November 6, 1989

Revenue Canada88 Metcalfe StreetOttawa, OntarioK1A 0L8

Attention: Rulings - Leasing & Financing Division

Dear Sirs:

RE:     Paragraphs 12(1)(x)(vii), 13(7.4), 53(2)(s), and 53(2.1) the Income Tax Act XXX

I have noticed that there is no technical provision for a partnership to make the election outlined in subsection 13(7.4) of the Income Tax Act. I understand that it is your assessing policy that a partnership may use the election procedure set out in paragraph 96(3) of the Act in order to make the election as a "taxpayer" pursuant to subsection 13(7.4) in circumstances that otherwise comply with the above captioned provisions. I also understand that Kevin Donnely, of your offices, has previously dealt with this matter in a letter on file under subsection 13(7.4).

Would you please provide me with written confirmation of Revenue Canada's position with respect to an election by a partnership pursuant to subsection 13(7.4).

Thank you for your attention to this matter.