| 19(1) | File No. 5-9186 |
| A.W. Larochelle | |
| (613) 957-2140 |
February 19, 1990
Dear Sirs:
Re: Interpretation Bulletin IT-454
This is in reply to your letter of December 1, 1989 requesting the Department's views withe respect to the above Interpretation Bulletin as it relates to the situation describe in your letter.
The facts regarding your particular situation are as follows:
24(1)
You have asked us to confirm based on paragraph 2 of the above bulletin, 24(1)
Our Comments
It appears that your fact situation relates to a specific taxpayer and that you are describing a proposed transaction which, according to Information Circular 70-6R, is more appropriately the subject of an Advance Income Tax Ruling. Paragraph 23 of the circular also indicates that written opinions concerning such proposed transactions will not in general be given.
Additionally, even if we were in a position to comment on this matter, without reviewing a copy of the contract and other related documents we would be unable to state with any degree of certainty that the Ontario Corporations Act would permit the transfer of the contract to which you refer.
Should you wish an advance income tax ruling in respect of your proposed transaction please refer to the guidelines described in Information Circular 70-6R. In particular we would draw your attention to the comments in paragraphs 15 and 16 with respect to the relevant documents required and other pertinent information to be submitted.
We trust that the above comments will be of assistance in this matter.
Yours truly,
for DirectorBusiness and General DivisionSpecialty Rulings DirectorateLegislative and Intergovernmental Affairs Branch