8 September 1989 Ruling 58353 F - Farming Operations

By services, 18 January, 2022
Official title
Farming Operations
Language
French
CRA tags
31, 110.6(1) qualified farm property
Document number
Citation name
58353
Severed letter type
Ruling
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
631479
Extra import data
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"field_release_date_new": "1989-09-08 08:00:00",
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Main text
19(1) File No. 5-8353
  M. Eisner
  (613) 957-2138

September 8, 1989

Dear Sirs:

This is in reply to your letter of July 6, 1989 concerning whether farm land, which is used in a farming operation where the deductibility of losses is restricted under section 31, can be regarded as being used in a "farming business" for the purposes of the definition of qualified farm property in subsection 110.6(1).

As indicated in paragraph 1(b) of IT-322R, it is our view that the farming operation is a business.  Accordingly, the farm land will not be disqualified from meeting the definition of qualified farm property in subsection 110.6(1) on the basis that the farming operation is described in section 31.

We trust you will find the foregoing satisfactory.

Yours truly,

for DirectorSmall Business and General DivisionSpecialty Rulings DirectorateLegislative and IntergovernmentalAffairs Branch