1 October 1990 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
657338
Extra import data
{
"field_external_guid": [
"menu:://Federal Income Tax [CCH Tax ]/Tax Window Files/Tax Window Files/Tax Window Files/1990s/1990 [5-902365 - ACC9700]/OC90_395 — Option to Acquire Real Property Qualifying as Eligible Property"
],
"field_proprietary_citation": [],
"field_release_date_new": "1990-10-01 08:00:00",
"field_tags": []
}
Main text
Current Amendments and                       Rulings Directorate
 Regulations Division                        L.A. McCarron-McGuire
                                             957-2092
Attention:R. D'Aurelio                       902860

SUBJECT: Subsection 85(1.1) of the Income Tax Act (the "Act")

We are enclosing a copy of a recently issued technical interpretation (901734) which outlines our views on whether an option to acquire real property qualifies as "eligible property" within the meaning of paragraph 85(1.1)(f).

We wish to advise you of the position taken, since it is not clear whether our interpretation of subsection 85(1.1), as outlined in paragraph three of the letter to the taxpayer, will produce appropriate results.

Yours truly,

R.J.L. Read Director General Rulings Directorate Legislative and Intergovernmental Affairs Branch