Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
Principal Issues: Can a mutual fund trust that is a registered investment that has elected pursuant to subsection 132.11(1) of the Income Tax Act to have a December 15th year-end also file its T3-RI return with a December 15th year-end?
Position: Yes.
Reasons: There is nothing in the law to prevent it.
April 15, 2004
HEADQUARTERS HEADQUARTERS
Trust and Pensions Section Income Tax Rulings
Individual Returns and Directorate
Payment Processing Directorate P. Kohnen
Assessment & Collections Branch
Attention: Deanna Dubé 2004-006466
T3RI Returns
This is in reply to your e-mail submission of February 27, 2004, requesting our comments as to whether a T3RI return may have a year-end other than December 31st.
As was noted during our telephone conversation, certain mutual fund trusts may elect under subsection 132.11(1) of the Income Tax Act (the "Act") to have a taxation year-end of December 15th each year.
In our view, a mutual fund trust that is also a registered investment pursuant to Part X.2 of the Act, may have a December 15th year-end for purposes of filing its T3RI return in accordance with subsection 204.7(1) of the Act.
Please do not hesitate to contact Phillip Kohnen at 957-2093 should you require further assistance.
Roberta Albert, CA
for Director
Financial Industries Division
Income Tax Rulings Directorate
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