3 January 1989 Ruling HBI 1417-3 F - 1990 and 1991 Instalment Guides for Corporations

By services, 18 January, 2022
Official title
1990 and 1991 Instalment Guides for Corporations
Language
French
CRA tags
123(1)(b), 124
Document number
Citation name
HBI 1417-3
Severed letter type
Ruling
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
633704
Extra import data
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"field_external_guid": [],
"field_proprietary_citation": [],
"field_release_date_new": "1989-01-03 07:00:00",
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Main text
 
                                  January 3, 1989
 
Mr. A. Bissonette                 Current Amendments and
Director                            Regulations Division
Revenue Programs Division         R.D. Weil (957-2066)
Assessing and Enquiries
  Directorate                                  F 3365                                  HBI 1417-3

1990 and 1991 Instalment Guides for Corporations

Further to our memo of November 14, 1989, we have now been advised that Bill C-75, which was given Royal Assent on July 21, 1988, was proclaimed in force on December 22, 1989 by Order-in-Council number P.C. 1989-2540.

The effect of this is that the 5% tax on taxable income earned in the Nova Scotia offshore area (paragraph 123(1)(b)) is repealed for taxation years commencing after December 22, 1989. Also, for purposes of the 10% federal tax abatement in section 124, the term "province" includes the Nova Scotia offshore area for such taxation years.

If you require any further information on this matter, please contact Rob Weil at the above number.

B.J. BrysonActing DirectorCurrent Amendments and  Regulations Division

RDW/