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: circularity and safe income calculation
Position:none taken as yet
Reasons:under review for policy implications
5-950218
XXXXXXXXXX D. Yuen
Attention: XXXXXXXXXX
February 6, 1997
Dear Sirs:
Re: Subsection 55(2) and paragraph 186(1)(b) of the Income Tax Act
We are writing in regard to your letter of January 10, 1995 wherein you requested our opinion on a hypothetical situation involving the above provisions. We regret that we are unable to provide a response at this time as we have not been able to establish whether your interpretation accurately reflects the intention of the legislation. We will respond to you when our final assessment of the above provisions has been completed.
Yours truly,
for Director
Reorganizations and International Division
Income Tax Rulings and Interpretations Directorate
Policy and Legislation Branch
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© Her Majesty the Queen in Right of Canada, 1997
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