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: Subsection 15(2) of the Income Tax Act (the Act)
We are writing in response to your September 14, 1993 facsimile transmission regarding shareholder loans and public corporations (subsection 15(2) of the Act).
In your correspondence you provided us with a particular fact situation and requested that we provide our comments regarding the application of subsection 15(2) of the Act given the recent decision in The Queen v. Silden (1993) E.T.C. 2067 (FCA).
In light of the Silden decision, the Department's position is currently under review and, accordingly, we are not able to provide you with a substantive reply at this time. You may wish to resubmit your request at a later date.
Yours truly,
P.D. Fuoco for DirectorBusiness and General 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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