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.
QUESTION I 56
Amalgamations - Depreciable Property
Does the Department consider that, on an amalgamation, subsection 251(3.1) would apply for purposes of paragraph 1102(14)(d) of the Income Tax Regulations so that the corporation resulting from the amalgamation would be considered to have acquired property from a person with which it was not dealing at arm's length at the time the property was acquired?
DEPARTMENT'S POSITION
Where the provisions of subsection 251(3.1) of the Act deem a new corporation formed as a result of an amalgamation or merger and any predecessor corporation to have been related persons, subsection 1102(14) of the Income Tax Regulations will deem the property acquired by the new corporation to be property of the same prescribed class or separate prescribed class as that of any predecessor corporation.
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© Sa Majesté la Reine du Chef du Canada, 1990
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