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.
962799
XXXXXXXXXX M. Eisner
Attention: XXXXXXXXXX
November 7, 1996
Dear Sirs:
Re: Prescribed Prizes
This is in reply to your letter of August 17, 1996, concerning the above-noted subject.
In your letter, you have referred to prizes that are prescribed under section 7700 of the Income Tax Regulations for the purposes of paragraph 56(1)(n) of the Income Tax Act (the Act). You have asked us for a list of prizes which are considered to qualify as "prescribed prizes" as well as a list of prizes which are not considered to so qualify.
While we have considered whether a number of prizes qualify as prescribed prizes, the Department does not have a comprehensive list in respect of prescribed prizes. However, comments in correspondence issued by this Directorate on prescribed prizes is available in the public reading rooms located in all tax services offices. It may be useful if you were to refer to this information at your local tax services office. In addition, we will, of course, consider whether a particular prize is a prescribed prize under paragraph 56(1)(n) of the Act if all the relevant facts and information are provided to us.
We trust our comments will be of assistance to you.
Yours truly,
John F. Oulton
for Director
Business and Publications Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation Branch
All rights reserved. Permission is granted to electronically copy and to print in hard copy for internal use only. No part of this information may be reproduced, modified, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, or stored in a retrieval system for any purpose other than noted above (including sales), without prior written permission of Canada Revenue Agency, Ottawa, Ontario K1A 0L5
© Her Majesty the Queen in Right of Canada, 1996
Tous droits réservés. Il est permis de copier sous forme électronique ou d'imprimer pour un usage interne seulement. Toutefois, il est interdit de reproduire, de modifier, de transmettre ou de redistributer de l'information, sous quelque forme ou par quelque moyen que ce soit, de facon électronique, méchanique, photocopies ou autre, ou par stockage dans des systèmes d'extraction ou pour tout usage autre que ceux susmentionnés (incluant pour fin commerciale), sans l'autorisation écrite préalable de l'Agence du revenu du Canada, Ottawa, Ontario K1A 0L5.
© Sa Majesté la Reine du Chef du Canada, 1996
Email this Content