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: Paragraph 219(1)(k) of the Income Tax Act
This is in reply to your letter dated February 17, 1993 and further to our telephone conversation (XXXXXXXXXX - Laurikainen) June 28, 1993. You requested clarification of the term "property...used by it immediately before that time for the purpose of gaining or producing income from a business carried on by it in Canada" in paragraph 219(1)(k) of the Income Tax Act.
Whether or not a particular property is used or held by a taxpayer for the purpose of gaining or producing income from a business is a question of fact. Your request did not contain facts with which such a determination could be made. Accordingly, while we generally agree with much of the analysis in your letter we are unable comment whether the conclusions you have drawn would hold in the particular fact situation with which you are concerned.
If your request relates to contemplated transactions, we would be pleased to consider such transactions, including all the relevant facts, should you decide to submit a ruling request. The district offices consider requests for written opinions on the tax consequences resulting from completed transactions.
Yours truly,
for DirectorReorganizations and Foreign DivisionRulings DirectorateLegislative and Intergovernmental Affairs Branch
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© Her Majesty the Queen in Right of Canada, 1993
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© Sa Majesté la Reine du Chef du Canada, 1993
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