Income Tax Technical News, No. 5, 28 July 1995

Until several cases currently before the courts dealing with the issues pertinent to IT-233R have been rendered, the guidelines in that Bulletin respecting when a transaction structured as a lease will be treated as an acquisition and disposition, will continue to be applied.

For fiscal periods ending after 28 July 1995, the adjustments to the ACB of a partnership interest in respect of the income or loss of the partnership will be made in accordance with s. 53(1)(e)(i) or 53(2)(c)(i).

For fiscal periods ending after 28 July 1995, the adjustments to the ACB of a partnership interest in respect of the income or loss of the partnership will be made in accordance with s. 53(1)(e)(i) or 53(2)(c)(i).