11 January 1990 Ministerial Correspondence 59254 F - Life Underwriters Income Tax Returns

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.

January 11, 1990

Dear Sirs:

Re:  Life Underwriters Income Tax Returns

We are responding to your letter of December 12, 1989, to which was attached draft copies of the most recent version of the tax information bulletin that is provided annually to Association members. We have reviewed the draft bulletin and have found that, from a technical standpoint, the information presented is correct.

There are four items of a minor nature that we would like to pass along.

1.     Under the caption "General Rules" requirement #3 makes reference to subsequent "items 1 to 14". That reference should read "item 1 to 15".

2.     Under the caption "Deductible Items Applicable to All Life Underwriters" item #10 makes reference to pages 18 to 24 of the 1988 Employer's and Trustee's Guide. That reference should be updated to read "...pages 18 to 26 of the 1989 Employer's and Trustee's Guide".

3.     Both references in item #13(d) to "June 17, 1989" should be amended to read "June 17, 1987".

4.     Under the caption "Additional Deductible Items for Self-Employed Life Underwriters" you may wish to refer in item #19 to Interpretation Bulletin IT-514 which deals with the subject matter.

We hope our comments will be of assistance to you.

Yours truly,

for DirectorBusiness and General DivisionSpecialty Rulings DirectorateLegislative and Intergovernmental Affairs Branch