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: Whether a reference to a "taxpayer" includes a partnership in draft paragraph (j) of Class 34 of Schedule II of the Regulations.
Position: Yes.
Reasons: We have taken the position that a partnership is a "person" for purposes of computing its Part I income and the classification of depreciable property is such a purpose. Per 248(1), "taxpayer" includes any person ...
971936
XXXXXXXXXX B.G. Dodd
957-8953
Attention: XXXXXXXXXX
March 27, 1998
Dear Sirs:
Re: Class 34 Certification
We are writing in response to your letter dated July 11, 1997 concerning proposed paragraph (j) of Class 34 of Schedule II of the Income Tax Regulations as set out in the draft proposals issued by the Minister of Finance on September 27, 1994, referred to below as “proposed paragraph (j)”.
It is our view that a reference to a “taxpayer” in proposed paragraph (j) would include a partnership.
We hope this will be of assistance.
Yours truly,
for Director
Resources, Partnerships and
Trusts Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation Branch
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