22 October 1990 External T.I. 902860 F - Option to Acquire Real Property Qualifying as Eligible Property

By services, 18 January, 2022
Official title
Option to Acquire Real Property Qualifying as Eligible Property
Language
French
CRA tags
85(1.1)
Document number
Citation name
902860
Severed letter type
Technical Interpretation - External
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
633546
Extra import data
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"field_external_guid": [],
"field_proprietary_citation": [],
"field_release_date_new": "1990-10-22 08:00:00",
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Main text
  October 22, 1990
Current Amendments and Rulings Directorate
Regulations Division L.A. McCarron-McGuire
  957-2092
Attention:  R. D'Aurelio  
  902860

SUBJECT:  Subsection 85(1.1) of the Income Tax Act (the "Act")

We are enclosing a copy of a recently issued technical interpretation (901734) which outlines our views on whether an option to acquire real property qualifies as "eligible property" within the meaning of paragraph 85(1.1)(f).

We wish to advise you of the position taken, since it is not clear whether our interpretation of subsection 85(1.1), as outlined in paragraph three of the letter to the taxpayer, will produce appropriate results.

Yours truly,

R.J.L. ReadDirector GeneralRulings DirectorateLegislative and Intergovernmental Affairs Branch