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.
MEMORANDUM
DATE November 23, 1987
To K.R. Warren Director Audit Applications Division Audit Programs Directorate
FROM Technical Interpretations Division R.E. Thompson 957-9227
SUBJECT: Re-Audit Communique SA-85-8
The Remission Committee has for consideration a request for a remission of tax in connection with an assessment under subsection 159(3) of tax owing by an estate. The tax owing arose primarily from deemed realizations of real estate in British Columbia on March 7, 1981, the date of death.
A remission is not considered to be warranted in the circumstances under the usual guidelines, but the Committee noted that real estate values were at their peak in early 1981 and that amounts realized within two years were substantially less than those established at the time of death. If the administration relief granted under Audit Communique SA-85-8 would have had application, the Committee would recommend remission to that extent.
Copies of the minutes of the Remission Committee, the report of the District Office and schedules detailing the differences between the deemed and actual proceeds are enclosed. It should also be noted that the proceeds were realized under forced sale conditions.
Your comments would be appreciated.
A/Chairman Remission Committee
Encl.
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© Her Majesty the Queen in Right of Canada, 1987
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© Sa Majesté la Reine du Chef du Canada, 1987
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