19 September 1991 Income Tax Severed Letter

By services, 22 July, 2022
Language
English
Document number
Severed letter type
Miscellaneous
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
656595
Extra import data
{
"field_external_guid": [
"menu:://Federal Income Tax [CCH Tax ]/Tax Window Files/Tax Window Files/Tax Window Files/1990s/1991 [NV91_275 - SE91_209.211]/SE91_120 — Joint Tax Liability on Non Arm's Length Transfer of Property"
],
"field_proprietary_citation": [],
"field_release_date_new": "1991-09-19 08:00:00",
"field_tags": []
}
Main text
CANADIAN TAX FOUNDATION
                        B. C. CONFERENCE
                         SEPTEMBER l991

QUESTION 47 - APPLICATION OF SECTION 160 QUESTION

QUESTION

Does section 160 apply with respect to taxes other than Part l taxes? For example, subsection 195(8) makes no reference to section 160 for purposes of Part viii.

ANSWER

Yes, section 160 of the Income Tax Act applies for the entire Act. Paragraph 160(1)(e) of the Act states that the transferee and transferor are jointly and severally liable to pay under this Act an amount equal to the lesser of.... Subsection 160(1) of the Act closes with the following statement "but nothing in this subsection shall be deemed to limit the liability of the transferor under any other provision of this Act".

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