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:
What does the term “retirement from, or loss of, an office or employment” mean in the context of paragraph 6801(d) of the Regulations?
Position:
We have taken the position that it generally has the same meaning as used for the definition of retiring allowance.
Reasons:
The wording and intent of the provisions were previously considered and the position for retiring allowance purposes was generally adopted for this purpose.
XXXXXXXXXX 981449
W. C. Harding
Attention: XXXXXXXXXX
August 12, 1998
Dear Sirs:
RE Paragraph 6801(d) of the Income Tax Regulations (“Regulations”)
This is in reply to your letter of June 5, 1998, in which you requested our views on the meaning of the terms “retirement” and “loss of office or employment” as these terms are used in paragraph 6801(d) of the Regulations.
We previously reviewed this issue and discussed it with officials of the Department of Finance. We are of the view that the interpretation given to these terms for the purposes of defining a retiring allowance are also generally appropriate for the purposes of this provision.
We trust these comments are satisfactory.
Yours truly,
Paul Lynch
for Director
Financial Industries Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation Branch
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