The RC3133 form requires disclosure of whether each disclosed RUTT is “temporary” or “non-temporary.” When determining if a RUTT is temporary, can the reporting corporation use the principles that are applicable to the determination of the temporary or permanent nature of a tax provision? CRA responded:
The determination of whether a RUTT is temporary or non-temporary should be determined according to the accounting principles used in the relevant financial statements of a reporting corporation, either the IFRS or other country-specific generally accepted accounting principles.