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.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department. Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
MEMO TO FILE
Disclosure of Controlled Foreign Affiliates
Is there a requirement for an individual to disclose any controlled foreign affiliates or beneficial interest in a non- resident discretionary trust on his/her T1 return?
What is the legal basis of the statements contained in Information Circular 77-9R?
Department's Position
The statement contained in Information Circular 77-9R concerning the disclosure in a T1 return of an individual's interest in a controlled foreign affiliate or a beneficial interest in a non- resident discretionary trust is intended to be a suggestion. However, the Minister is entitled by section 231.2 of the Act to obtain this information.
Tim Kuss October 9, 1992 File # 922920 Doc. Type "9" Applicable Sections: 231.2 Subject: Reporting of Controlled Foreign Affiliates
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, 1992
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, 1992
Email this Content