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.
CTF - 1990 Conference Report
ADDITIONAL QUESTION
PARTNERSHIP - "PERSON"
The Department has expressed the view in the past that section 54.2 does not apply to a partnership which has disposed of all of the assets used in an active business. However, we understand that this position is under review. What is the present status of this review?
ANSWER
The Department has completed this review. A partnership is not a person and section 54.2 applies to a person. However, subsection 96(1) requires partnership income to be calculated as though the partnership were a separate person. Section 54.2 may be relevant for this purpose; accordingly, section 54.2 does apply to partnerships which have disposed of all of the assets used in an active business.
CTFNovember 1990C. TremblaySection 23
All rights reserved. Permission is granted to electronically copy and to print in hard copy for internal use only. No part of this information may be reproduced, modified, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, or stored in a retrieval system for any purpose other than noted above (including sales), without prior written permission of Canada Revenue Agency, Ottawa, Ontario K1A 0L5
© Her Majesty the Queen in Right of Canada, 1990
Tous droits réservés. Il est permis de copier sous forme électronique ou d'imprimer pour un usage interne seulement. Toutefois, il est interdit de reproduire, de modifier, de transmettre ou de redistributer de l'information, sous quelque forme ou par quelque moyen que ce soit, de facon électronique, méchanique, photocopies ou autre, ou par stockage dans des systèmes d'extraction ou pour tout usage autre que ceux susmentionnés (incluant pour fin commerciale), sans l'autorisation écrite préalable de l'Agence du revenu du Canada, Ottawa, Ontario K1A 0L5.
© Sa Majesté la Reine du Chef du Canada, 1990
Email this Content