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.
DATE July 27, 1983
To-- Specialized Audit Division
FROM - Non-Corporate Rulings Division B. Toyota 995-0051
ATTENTION- T. McDonald Estate & Trust Group
XXXX
We have reviewed the documents submitted with your memorandum of July 14 and offer the following comments.
In our view, the amount received from XXXX is proceeds of disposition under subparagraph 54(h)(ii) to which subsections 44(2) and (3) (effective after March 31, 1977) are applicable. Accordingly, the disposition would be considered to have taken place in 1982 with the result that there is no capital loss in 1981. It should be noted that IT-185 was issued in 1974 at which time the above subsections did not include a reference to dispositions described in subparagraph 54(h)(ii).
for Director Non-Corporate Rulings Division
c.c. Publications Division 44(2)
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© Her Majesty the Queen in Right of Canada, 1983
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© Sa Majesté la Reine du Chef du Canada, 1983
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