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.
| |
November 20, 1989 |
| TO CALGARY DISTRICT OFFICE |
FROM HEAD OFFICE |
| |
Specialty Rulings |
| |
Directorate |
| T. Miszaniec |
R.B. Day |
| Audit Review |
(613) 957-2136 |
| |
File No. 7-4477 |
Subject: 24(1) 19(1) Application of Subsection 15(2)
We are writing in reply to your memorandum of October 26, 1989, wherein you requested our opinion regarding the application of subsection 15(2) in the situation described in the correspondence which accompanied your letter.
Specifically, you have requested our views as to whether or not the "conduit" argument put forth by the taxpayers' representatives, could be accepted to obviate what appears to be a shareholder loan situation to which the exception in subparagraph 15(2)(a)(iii) would not apply.
24(1)
Our Comments
We have reviewed our research files with respect to subsection 15(2) and were unable to find any authority for accepting the taxpayer's conduit arguments. In view of the foregoing.
24(1)
We hope these comments will be of assistance.
for DirectorBusiness and General DivisionSpecialty Rulings DirectorateLegislative and IntergovernmentalAffairs 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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