20 November 1989 Administrative Letter 59076 F - Availability of a Rollover of Real Property Inventory into a Partnership

By services, 7 July, 2022
Official title
Availability of a Rollover of Real Property Inventory into a Partnership
Language
French
CRA tags
97(2)
Document number
Citation name
59076
Severed letter type
Administrative Letter
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
649898
Extra import data
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"field_release_date_new": "1989-11-20 07:00:00",
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Main text
19(1) File No. 5-9076
  R. Albert
  (613) 957-2098

November 20, 1989

Dear Sirs:

Re:  Subsection 97(2) of the Income Tax Act (the "Act")

We are writing in reply to your letter of November 20, 1989 wherein you requested written confirmation of the availability of a rollover of inventory which is real property into a partnership.  Your query results from the apparent exclusion of this type of property from the Form T2059 "Election on Disposition of Property by a Taxpayer to a Canadian Partnership".

We confirm the availability of a rollover of inventory which is real property into a partnership under the provisions of subsection 97(2) of the Act.

We trust that these comments will be of assistance.

Yours truly,

B.W. Dath DirectorBusiness and General DivisionSpecialty Rulings DirectorateLegislative and IntergovernmentalAffairs Branch