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.
MINISTER/DM'S OFFICE YS# M94-03524M
ADM'S OFFICE
RETURN TO RULINGS, ROOM 303, MET. BLDG.
AUTHOR
SUBJECT OF CORPORATE CASE FILE
June 17, 1994
XXXXXXXXXX
Dear XXXXXXXXXX:
I am replying to your letter addressed to the Honourable Paul Martin, Minister of Finance, regarding the effect of the termination of the special investment tax credit on an XXXXXXXXXX A copy of your letter was sent to the Honourable David Anderson, Minister of National Revenue, on April 29, 1994. I apologize for the delay in replying.
For the purposes of the grandfathering rules in respect of the termination of the special investment tax credit, the question of whether the Project was "substantially advanced, as evidenced in writing, on February 22, 1994," is a question of fact which can only be determined by examining all of the relevant facts about the Project. While the Department does not provide advance income tax rulings on budget resolutions and proposals that are not yet law or on draft legislation, an opinion which is not binding on the Department may be issued.
Departmental officials would be pleased to examine a request for an opinion on whether the Project would be considered to be "substantially advanced" for purposes of determining the eligibility of the Project for the special investment tax credit. In this respect, you may submit your written request to Mr. John Chan, Acting Director, Manufacturing Industries, Partnerships and Trusts Division, Rulings Directorate, Revenue Canada, 875 Heron Road, Room 303, Metcalfe Building, Ottawa, Ontario K1A 0L8.
I trust that I have satisfactorily addressed your concerns on this matter.
Yours sincerely,
Pierre Gravelle, Q.C.
Peter Lee
957-8977
941229
June 13, 1994
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