21 November 1989 Income Tax Severed Letter AC58912 - Undue Tax Advantge Conferred on Shareholder or Corporation - IT-445

By services, 22 July, 2022
Official title
Undue Tax Advantge Conferred on Shareholder or Corporation - IT-445
Language
English
Document number
Citation name
AC58912
Severed letter type
Miscellaneous
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
656583
Extra import data
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"field_release_date_new": "1989-11-21 07:00:00",
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Main text
5-8912
19(1)                                             T. Murphy
                                                  (613) 957-2747

November 21, 1989

Dear Sirs:

Re: Paragraph 7 of Interpretation Bulletin IT-445 and David Scott v. MNR, 89 DTC 218

This is in reply to your letter dated August 28, 1989, concerning the Department's administrative position in paragraph 7 of Interpretation Bulletin IT-445 in light of the court's decision in the Scott case.

The Scott case does not represent a change in the Department's position. The Department will continue to follow the administrative position set out in paragraph 7 of Interpretation Bulletin IT-445 provided the conditions set out in the bulletin are met.

Examples of situations where the Department considers that an undue tax advantage has been conferred on either a shareholder or a corporation are contained in paragraph 8 of Interpretation Bulletin IT-445 .

Yours truly,

for Director Financial Industries Division Rulings Directorate