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: DSLP review
Position: Routine
Reasons: Routine
XXXXXXXXXX 5-961972
Attention: XXXXXXXXXX
June 10, 1996
Dear Sirs:
Re: Deferred Salary Leave Plan ("DSLP")
This is in reply to your facsimiles of May 30, and May 31, 1996, in which you asked for our comments on the above noted plan.
As discussed during our recent telephone conversations (XXXXXXXXXX-Harding) a plan must comply with the requirements of section 6801 of the Income Tax Regulations (the "Regulations") in order for it to qualify as a DSLP but there is no requirement for a plan to be approved by the Department. However, the Department can provide a confirmation that a plan meets the provisions of the Regulations if the confirmation is requested in the form of a request for an advance income tax ruling submitted in the manner set out in Information Circular 70-6R2 prior to the creation of the plan. Nevertheless, we have reviewed the terms of your plan as provided to us on May 31, 1996 and we can advise that, in our opinion, it will meet the conditions of section 6801 of the Regulations.
We trust the above comments will be of assistance to you.
Yours truly,
for Director
Financial Industries Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation Branch
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© Her Majesty the Queen in Right of Canada, 1996
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