Principal Issues: 1. Taxpayer is seeking clarification of the rules for sharing the tax credit for political contributions.
Position: 1. No position taken. Referred to ITRD for reply.
Reasons: 1. Interpretative question to be addressed by ITRD.
October 28, 2013
XXXXXXXXXX
Dear XXXXXXXXXX:
Thank you for your correspondence about the reporting and deductibility of federal political party contributions, the qualified investments rules for tax-free savings accounts and registered retirement savings plans, the adequacy of the technical notes, and the excess regulations in general. I apologize for the delay in replying.
Regarding the reporting and deductibility of federal political party contributions, I am sending your letter to the Income Tax Rulings Directorate of the Canada Revenue Agency (CRA) for its review and reply. The directorate will contact you directly. I am also sending your comments about the clarity of the CRA's publications and frontline services to the responsible CRA officials for their review and consideration.
The CRA is responsible for administering the tax system and applying current tax legislation. The Department of Finance Canada is responsible for developing tax policy and legislation. Any proposal to change legislation must be considered by the Minister of Finance and approved by Parliament. I am therefore sending a copy of our correspondence to the Honourable James M. Flaherty, Minister of Finance, for his consideration.
I trust that the referrals are helpful.
Yours sincerely,
Kerry-Lynne D. Findlay, P.C., Q.C., M.P.
c.c.: The Honourable James M. Flaherty P.C. M.P.
Minister of Finance
House of Commons
Ottawa ON K1A 0A
Robert Dubis (905) 721-5191
2013-050092