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.
Principal Issues:
Requested information about deferred salary leave plans.
Position TAKEN:
Provided copy of ATR-39.
Reasons FOR POSITION TAKEN:
Routine
XXXXXXXXXX 941909
August 15, 1994
Dear XXXXXXXXXX:
Re: Pre-Paid Leave Plan
This is in reply to your letter of July 18, 1994, in which you ask us to describe the requirements for the above-noted type of plan.
Enclosed for your information is Income Tax Ruling ATR-39 ("Deferred Salary Leave Plan") which describes a typical pre-paid leave plan. At pages 5 and 6 of the publication there is a discussion of the requirements of the Income Tax Act and Regulations and an explanation of the taxation consequences for a participant in such a plan.
We trust this information is helpful. If, after reading ATR-39, you should have any other questions, please contact us.
Yours truly,
for Director
Financial Industries Division
Rulings Directorate
Policy and Legislation Branch
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© Her Majesty the Queen in Right of Canada, 1994
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© Sa Majesté la Reine du Chef du Canada, 1994
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