ROUND TABLE - CGA - JANUARY 10, 1992
Officer: P Diguer
File: 7-912212
QUESTION #7
Given the uncertainty and the large number of questions directed to the Department with respect to the application of subsections 55(2) and 55(3) of the Act and the definition of the concept of "series of transactions" in subsection 248(10), does the Department intend to publish an Interpretation Bulletin on their application? Apparently subsections 55(2) and 55(3) of the Act are currently under review. Can taxpayers expect significant amendments to these contentious sections in the near future?
ANSWER
The Department is not currently considering publishing an Interpretation Bulletin or Information Circular concerning subsections 55(2) and 55(3) of the Act. However, the Department plans to complete a project to bring together all its positions in a single document.