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 XXX:
We are writing in response to your letter of January 11, 1983 wherein you requested our comments concerning certain aspects of subsection 85(1) of the Income Tax Act.
You have indicated that subsection 85(1) does not apply when a non-resident transfers real property, or an interest therein, to a corporation. You have asked whether, in our opinion, a partnership interest in a partnership which owns real property (consisting of land that is capital property) could be considered to be an interest in real property for purposes of subsection 85(1).
The determination of whether a partnership interest would be considered to be an interest in real property would depend on all the relevant facts in a particular instance. In some instances, for example where the partnership has been established for a long time and the land owned by the partnership represents land used in an active business carried on by the partnership, we would not take the view that the partnership interest is an interest in real property.
In other instances the facts may indicate that the transfer of a partnership interest to a corporation is in substance a transfer of an interest in real property.
We trust these comments will be of assistance to you.
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© Her Majesty the Queen in Right of Canada, 1983
Tous droits réservés. Il est permis de copier sous forme électronique ou d'imprimer pour un usage interne seulement. Toutefois, il est interdit de reproduire, de modifier, de transmettre ou de redistributer de l'information, sous quelque forme ou par quelque moyen que ce soit, de facon électronique, méchanique, photocopies ou autre, ou par stockage dans des systèmes d'extraction ou pour tout usage autre que ceux susmentionnés (incluant pour fin commerciale), sans l'autorisation écrite préalable de l'Agence du revenu du Canada, Ottawa, Ontario K1A 0L5.
© Sa Majesté la Reine du Chef du Canada, 1983
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