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.
XXXXXXXXXX
Attention: XXXXXXXXXX
Dear Sirs:
RE: University Foundations Act (Ontario), 1992
This is in reply to your letter of November 25, 1992 wherein you request our views regarding foundations established under the University Foundation Act (Ontario), 1992 (the "Foundations Act").
Specifically you request confirmation that donations made to such foundations will qualify as "Crown gifts" for purposes of subsection 118.1(1) of the Income Tax Act (the "Act"). Such confirmation can only be given by way of an advance income tax ruling. However, we are prepared to provide the following opinion.
OUR VIEWS
Based on our review of the Foundations Act it is our view that donations made to such a foundation in its capacity as agent of Her Majesty in the right of Ontario will qualify as Crown gifts for purposes of subsection 118.1(1) of the Act provided official receipts containing prescribed information are filed by donors with their tax returns.
The foregoing opinion is not a ruling and, in accordance with the guidelines set out in paragraph 21 of Information Circular 70-6R2, is not binding on the Department.
We trust our comments will be of assistance.
E. Wheeler for Director Business and General DivisionRulings DirectorateLegislative and Intergovernmental Affairs Branch
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© 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
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