24(1)
5-920655
P. Spice
(613) 957-8953
Attention: 19(1) Director
April 8, 1992
Dear Sirs:
Re: Prepaid Leave Plan
This is in reply to your letter of February 27, 1992, in which you ask us to confirm that your Prepaid Leave Plan (a copy was enclosed with your letter) can now be approved.
As noted in our previous letters to you of June 17, and
December 16, 1991, confirmation that a particular plan meets the requirements of section 6801 of the Regulations is given only where an advance income tax ruling has been requested in the manner set out in Information Circular 70-6R2 (copy enclosed with our letter of December 16, 1991) and the required deposit has been received. The following comment reflects an expression of opinion only, which is not binding on the Department as explained in paragraph 21 of that Circular.
We have reviewed the terms of the Prepaid Leave Plan and, in our opinion, they meet the requirements of Section 6801 of the Income Tax Act Regulations.
Yours truly,
for DirectorFinancial Industries DivisionRulings Directorate