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.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
5-941733
XXXXXXXXXXJ. Teixeira
(613) 957-8953
Attention: XXXXXXXXXX
May 11, 1995
Dear Sirs:
Re: Technical Interpretation
This is in reply to your letter of July 5, 1994 in which you requested our opinion on a situation involving the transfer of depreciable property of a prescribed class by a taxpayer to a transferee that was a partnership and, immediately after the disposition, the taxpayer's interest in the partnership as a member thereof is as described in paragraph 97(3.1)(a) or (b) of the Income Tax Act (the "Act"). The Department of Finance released draft technical amendments to the Act on April 26, 1995 which included the proposed repeal of subsection 85(5.1) of the Act. As it is proposed that subsection 85(5.1) of the Act be repealed, we regret that no opinion may be given regarding its application to any hypothetical situations. In the event that your request relates to a completed transaction your request should be directed to the District Office in which the taxpayer's income tax return is filed.
Yours truly,
for Director
Reorganizations and Foreign Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation Branch
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© Her Majesty the Queen in Right of Canada, 1995
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