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.
Edmonton District Taxation Business and General Office Division Mr. Al Hoblyak - Technical Advisor
Mr. L. Manary - Auditor (613) 957-2138
Health and Welfare Trusts
This is in reply to your memorandum of June 21, 1993 in which you requested us to review revisions made to the XXXXXXXXXX The revisions were made with respect to comments we set out in a memorandum dated March 10, 1993.
Subject to the comments in the following paragraph, it is our view that the agreement is acceptable in relation to a health and welfare trust described in Interpretation IT-85R2.
In item number 5 of our memorandum dated March 10, 1993, we indicated a concern in relation to Article XXXXXXXXXX which provided that the trust may, inter alia, purchase real property. The revised Article states that the trust may "mortgage and rent real property, equipment and supplies". It seems that the article may have been intended to read as "to rent real property and to purchase, mortgage and rent equipment and supplies".
P.D. Fuoco Section Chief Personal and General Business and General DivisionRulings DirectorateLegislative and Intergovernmental Affairs Branch
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