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.
XXXXXXXXXX 3-943022
Attention: XXXXXXXXXX
December 14, 1994
Dear Sirs:
Re: XXXXXXXXXX
This is in reply to your letter of October 13, 1994, in which you requested an advance income tax ruling on behalf of XXXXXXXXXX and to confirm your withdrawal of that request.
As discussed during our telephone conversation of December 8, 1994 (XXXXXXXXXX-Harding) it is our view that an employer-employee relationship must exist between the payor and payee of an amount in order for the amount to be a retiring allowance. Accordingly the payment of an amount by the former owners of an unincorporated business to themselves will not constitute a retiring allowance.
We regret that our reply could not be more favourable.
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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