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 Sirs:
Re: Leasing Transactions
This is in reply to your letter of January 23, 1991 wherein you requested confirmation that the transaction described in your letter between a Canadian lessee and a non-resident lessor would, although structured as a lease, result in a disposition and acquisition of the property that is the subject of the lease for all purpose of theIncome Tax Act(the “Act”). Among other things, you specifically requested confirmation that the lease payments would be viewed as blended payments of principal and interest for Parts I and XIII of the Act.
We are unwilling to comment on the income tax implications arising from the arrangement described in your letter, which appears to involve an actual or contemplated transaction or group of transactions. We can advise you that the Financial Industries Division of Revenue Canada, Taxation (RCT) has recommended that interpretation Bulletin IT-233R be amended to state that the positions therein would apply for all purposes of the Act. We caution, however, that our recommendation has not yet cleared RCT's interpretation bulletin approval process.
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© Her Majesty the Queen in Right of Canada, 1991
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, 1991
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