QUESTION 36
In what circumstances is Revenue Canada prepared to provide comfort letters on the eligibility of a transaction for grandfathered status under proposed legislation?
DEPARTMENT'S POSITION
As stated in paragraph 22 of IC 70-6R2 the Department does not provide advance rulings on budget resolutions and proposals that are not yet law, or on draft legislation. The Department will however give opinions on legislative Bills relating to proposed legislation or budget resolutions and Ways and Means Motions where the proposals are in the form of draft law. Such opinion letters may address the eligibility of a transaction for granfathered status under proposed legislation. These opinions are not binding on the Department and there is no fee charged for them.
Canadian Tax Foundation - B.C. ConferenceSeptember 1991L. HollowaySection 23