30 May 1990 Income Tax Severed Letter AC59842 - Election Re Tax Witholding from Dividend or Capital Gain

By services, 22 July, 2022
Official title
Election Re Tax Witholding from Dividend or Capital Gain
Language
English
Document number
Citation name
AC59842
Severed letter type
Miscellaneous
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
657395
Extra import data
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"field_external_guid": [],
"field_proprietary_citation": [],
"field_release_date_new": "1990-05-30 08:00:00",
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Main text
24(1)                                             5-9842
                                                  J.D. Jones
   19(1)                                          (613) 957-2104
Dear Sirs:

Re: Paragraph 153(1)(n) of the Income Tax Act

This is in reply to your letter of March 21, 1990, in which you asked whether a taxpayer may elect under paragraph 153(1)(n) of the Act to have an amount withheld from a source of income that is a capital gain or a dividend.

In order for such an election to be possible an amendment would have to be made to Part I of the Regulations to authorize and stipulate the amount to be withheld from the dividend or capital gain. To our knowledge such an amendment is not being contemplated at the present time. In this regard, you may wish to make the Department of Finance aware of your views.

We trust our comments are of assistance to you.

Yours truly,

for Director Business and General Division Specialty Rulings Directorate Legislative and Intergovernmental Affairs Branch