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.
Dear Sir:
RE: Rollover of Partnership Interest
In your letter of August 6, 1980 you requested our opinion as to the potential applicability of subsection 85(1.1) of the Act to a rollover XXX
We agree with your interpretation that, although the partnership may own property referred to in subsection 59(2), a limited partnership interest is itself a capital property which is separate and distinct from the partnership property.
In our opinion, such a limited partnership interest would not in itself be property referred to in subsection 59(2) thus subsection 85(1.1) would not be applicable to the rollover under 85(1).
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© Her Majesty the Queen in Right of Canada, 1980
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© Sa Majesté la Reine du Chef du Canada, 1980
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