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.
| |
September 19, 1989 |
| TO - Current Amendments and |
FROM - Rulings Directorate |
| Regulations Division |
Resource Industries |
| |
Section |
| B. Bryson |
Allan B. Nelson |
| Acting Director |
957-8984 |
| |
File No. 7-3873 |
SUBJECT: Stock Options in U.S. Corporations Subparagraph 110(1)(d)(iii)
We have been asked to respond to your memorandum addressed to G. Middleton, dated April 24, 1989, concerning the application of subparagraph 110(1)(d)(iii) of the Act.
BACKGROUND
For a full description of the background to the issue in question, reference is made to our memo addressed to the Review Committee, dated September 8, 1989 (copy attached).
RULINGS COMMENTS
The Review Committee decided on September 13, 1989, that we would maintain our original position, concerning subparagraph 110(1)(d)(iii) of the Act, as outlined in our January 17, 1989, letter to 24(1).
We are not offering possible legislative solutions to the subparagraph 110(1)(d)(iii) issue since the Foreign Section of Specialty Rulings Directorate will be making recommendations in the near future on a number of foreign currency topics, one of which will encompass this provision.
If you want to discuss this matter further please contact the writer.
C.C. B. Darlingng Director GeneralRulings Directorate Legislative and Intergovernmental Affairs Branch
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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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