4 May 1992 Roundtable, 9212120 F - IT-114

By services, 7 July, 2022
Official title
IT-114
Language
French
CRA tags
20(1)(c)
Document number
Citation name
9212120
Severed letter type
Conference
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
649474
Extra import data
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Main text

Prepared by: J. Stalker

May 4, 1992

1992 TEI Conference

Question 6 - Interpretation Bulletin IT-114

What is Revenue Canada's current position in regards to revisions to Interpretation Bulletin IT-114 ("Discounts, premiums and bonuses on debt obligations") in view of the release of the Department of Finance proposals on interest deductibility?

Department's Response

We do not anticipate any revisions to IT-114 until the interest legislation is finalized.  As noted in the press release from the Department of Finance dated December 20, 1991 which announced the draft interest expense legislation, taxpayers and tax practitioners are invited to review the draft legislation and make comments before the final legislation is tabled.

Leasing and Financing Section