| 19(1) | File No. 5-9733 |
| Maureen Shea-DesRosierss | |
| (613) 957-8953 |
April 3, 1990
Dear Sir:
Re: Subsection 70(6) of the Income Tax Act (the "Act")
This is in reply to your letter of March 12, 1990 wherein you requested our opinion on the application of subsection 70(6) of the Act. You describe the following situation:
1. Mr. X dies leaving a will which appoints his wife as the sole executrix and leaving all of his assets to her outright.
2. Six months after Mr. X's death (and before probate), the estate of Mr. X sells certain property to a third party, conditional on obtaining probate.
The determination of whether subsection 70(6) of the Act applies can only be made after a detailed examination of the will and other relevant documents in each specific situation and we are therefore not able to advise you as requested. Since your enquiry appears to be in respect of an existing situation, you should contact your District Office to ascertain the income tax implications.
Yours truly,
for Director Financial Industries DivisionRulings Directorate