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.
| Minister's Office (2) |
ACC8380 |
| District Office |
Y.S. 9025015 |
| Central Records |
| File Copy |
| Return to Technical Interpretations |
| 3rd Floor, Fuller Bldg. |
| |
August 18, 1989 |
19(1)
I am writing further to my letter of March 20, 1989, concerning your current tax liability resulting from the reassessments of your 1980 and 1982 tax returns. I apologize for the delay in responding which was necessitated by a thorough review of the circumstances.
24(1)
As I have indicated, your assessments have been carefully reviewed and based on the information which you have provided, I can confirm that they are correct. The Income Tax Act, in those years, required that one half of gains arising from the sale of a taxpayer's capital property be included in his or her income and taxed at the normal personal rates. This was so regardless of how the taxpayer used or was obliged to use the proceeds from the sale of his property.
Although I am unable to offer the relief requested, I have asked Mr. G.C. Yorke, Chief of Verification and Collections in the Edmonton District Taxation Office, 21(1)(a). Mr. Yorke or one of his officers, will contact you shortly to explain the arrangement. Mr. Yorke may also be reached at (403) 495-3427.
I trust this information will be of assistance in understanding the Department's reassessments and I thank you for bringing your concerns to my attention.
Yours sincerely,
Otto Jelinek
c.c. EDMONTON DISTRICT TAXATION OFFICE Attention: Mr. G.C. Yorke Chief of Verification and Collection
| PKT/fd(9025015) |
| July 27, 1989 |
| Phil Tang 957-9229 |
STALLED |
| |
620 529 677 |
LC/cl(9025015)20August 20, 1989D.M.'s Office
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© Her Majesty the Queen in Right of Canada, 1989
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© Sa Majesté la Reine du Chef du Canada, 1989
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