21 July 1989 Ministerial Correspondence 58054 F - Loss Carryforward Applications

By services, 18 January, 2022
Official title
Loss Carryforward Applications
Language
French
CRA tags
152(4)(c)
Document number
Citation name
58054
Severed letter type
Ministerial Correspondence
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
629582
Extra import data
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Main text
19(1) File No. 5-8054
  M. Eisner
  (613) 957-2138

July 21, 1989

Dear Sirs:

This is in reply to your letter of May 3, 1989 concerning changes to loss carryforward applications.

With respect to this issue, the Department will generally accede to a request to substitute one type of loss for another provided the request can be processed within the time limits specified under paragraph 152(4)(c) and the taxpayer is eligible to have the loss applied in the manner requested. We note that it is not necessary that the taxpayer be in a NIL taxable position for a substitution of losses to be made.

We trust you will find the foregoing satisfactory.

Yours truly,

for DirectorSmall Business and General DivisionSpecialty Rulings DirectorateLegislative and IntergovernmentalAffairs Branch