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.
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921245 |
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R.B. Day |
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(613) 957-2136 |
May 13, 1992
Halifax District OfficeBusiness and General DivisionJ.D. GlennieChief of Enquiries and Office Examination
Section 118.3
We are writing in reply to your memorandum of April 21, 1992, wherein you requested our views as to whether or not the amount of $4,118 in subsection 118.3(1) of the Income Tax Act is the correct amount for the 1991 taxation year or if this amount has to be indexed for 1991.
Our Comments
The $4,118 amount is the correct figure for the 1991 taxation year and does not require indexation for 1991. Pursuant to the indexing formula in subsection 117.1(1) this amount is increased to $4,233 for the 1992 taxation year.
We are enclosing for your information, a copy of page 33 of the T1 Guide and page 118-943 of Canada Tax Service, dated March 20, 1992.
P.D. FuocoSection ChiefPersonal and General SectionBusiness and General DivisionRulings DirectorateLegislative and Intergovernmental Affairs Branch
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© Her Majesty the Queen in Right of Canada, 1992
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© Sa Majesté la Reine du Chef du Canada, 1992
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