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.
XXXX
J.B. Grise
August 11, 1981
XXXX
This is in reply to your letter of June 22 concerning the tax credit referred to in paragraph 3(b) of Article X of the Canada-U.K. Tax Convention.
In our opinion, a Canadian resident entitled to such a tax credit would be required to recognize it in income in the same year the dividend to which it relates is received. For purposes of section 126 of the Income Tax Act we would consider the United Kingdom tax in respect to the dividend to have been paid in the year the dividend is to be recognized as income. Our response would not differ if a taxpayer chose not to collect the tax credit due to him.
Your sincerely,
for Director Non-Corporate Rulings Division
c.c. Kevin Donnelly
Art. X - Canada-U.K. Convention (New)
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© Her Majesty the Queen in Right of Canada, 1981
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© Sa Majesté la Reine du Chef du Canada, 1981
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