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: dissolution of NPO
Position: no comment - should be a ruling request
Reasons:
XXXXXXXXXX 981765
W. Douglas
Attention: XXXXXXXXXX
July 21 1998
Dear Sirs:
Re: Dissolution of a Non-Profit Organization (NPO)
This is with respect to your letter of June 11, 1998 concerning the above subject which was forwarded to us by our Charities Division.
The situation described in your letter would appear to involve an actual proposed transaction. Assurance as to the tax consequences of proposed transactions will only be given in the context of an advance income tax ruling. The procedures for requesting an advance income tax ruling are outlined in Information Circular 70-6R3 dated December 30, 1996 issued by Revenue Canada, Customs, Excise and Taxation.
We have, however, enclosed Interpretation Bulletins IT-409 and IT-496 and the Special Release to IT-496 which we believe will answer your questions with respect to the dissolution of a NPO.
Yours truly
for Director
Financial Industries Division
Income Tax Rulings and
Interpretations Division
Policy and Legislation Branch
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