18 May 1988 Income Tax Severed Letter 7-2793 - [Subsection 13(21.1) of the Income Tax Act (the "Act")]

By services, 22 July, 2022
Official title
[Subsection 13(21.1) of the Income Tax Act (the "Act")]
Language
English
Document number
Citation name
7-2793
Severed letter type
Miscellaneous
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
657302
Extra import data
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"field_release_date_new": "1988-05-18 08:00:00",
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Main text

MAY 18 1988

TO: B.J. Bryson, Actin g Director Current Amendments and Regulations Division

FROM: Specialty Rulings Directorate G. Thornley (613) 957-2101

SUBJECT: Subsection 13(21.1) of the Income Tax Act (the "Act")

This is in reply to your memorandum of April 29, 1988 with enclosed proposed technical bill amendment from Finance relating to the above noted subsection. You ask for our comments on the proposed amendment.

Our Comments

We have reviewed the proposed amendment to subsection 13(21.1) of the Act and find that it correctly deals with the anomaly arising out of the interaction of that subsection and paragraph 79(c) of the Act.

We trust our comments will be helpful.

Director General Specialty Rulings Directorate Legislative and Intergovernmental Affairs Branch