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) |
5-9169 |
| |
Peter Lee |
| |
(613) 957-2745 |
| December 19, 1989 |
Dear Sir:
Re: Proposed section 16.1 of the Act
We are writing in reply to your letter of November 29, 1989 with respect to the above-noted matter.
Whether a transaction is a lease, a sale or a disposition of property under the Act must be determined in light of the true legal rights and obligations of the parties involved in the transaction. Interpretation Bulletin IT-233R, which is currently being revised, will likely contain the Department's views on when a transaction would be considered to be a disposition of property, rather than a lease, under the Act. Consequently, should it be determined that a transaction is not a lease, proposed section 16.1 of the Act would not have any application to the transaction.
We hope that the foregoing is helpful to you. This is not a tax ruling and accordingly is not binding on the Department.
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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