| September 7, 1989 | |
| Mr. M.A.G. Hiltz | Current Amendments and |
| Director General | Regulations Division |
| Specialty Rulings Directorate | Wm.R. McColm |
| 957-2068 | |
| Attention: Kevin Donnelly | |
| File No. F-3149 |
Transferring foreign losses to Canada
In response to your memo of July 27, 1989 concerning the above matter we wrote to the Department of Finance. They have now replied. For your information we are attaching a copy of both our letter to them and their reply.
Should you have any further query concerning this matter or wish to discuss the issue, we would be pleased to hear from you.
We will ensure that this issue is included in the upcoming study to be conducted by Finance on the deductibility of interest in Canada.
B.J. Bryson Acting DirectorCurrent Amendments andRegulations Division
WRMcC/jab