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.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
MINISTER/DM'S OFFICE 95-05299M
ADM'S OFFICE
RETURN TO RULINGS, 15th Floor, Albion Tower
September 6, 1995
XXXXXXXXXX
Dear XXXXXXXXXX:
The Honourable David Anderson, Minister of National Revenue, has asked me to respond to your letter of March 25, 1995, addressed to the Right Honourable Jean Chrétien, Prime Minister of Canada, about the proposed elimination of the deferral of tax on business income, as announced in the February 27, 1995 budget. A copy of your letter was sent to Mr. Anderson by the Office of the Prime Minister on July 5, 1995. I apologize for the delay of my reply.
I have noted your comments about the impact of the proposal on businesses. Your concerns relate to tax policy, which is the responsibility of the Department of Finance. I have therefore forwarded a copy of your letter to Mr. David A. Dodge, Deputy Minister of that department.
I am, however, pleased to advise you that in a press release issued on July 19, 1995, a copy of which I am enclosing, the Honourable Paul Martin, Minister of Finance, announced that the government has consulted with taxpayers and their elected representatives concerning this particular proposal. As a result of these consultations, several modifications have been incorporated in the draft legislation. In response to the concerns of taxpayers who have valid non-tax reasons for having an off-calendar fiscal period, Mr. Martin announced that the government will provide an alternative method of calculating income. Proposed legislation to implement this alternative method will be tabled in the House of Commons in the fall.
I appreciate being made aware of your concerns.
Yours sincerely,
Pierre Gravelle, Q.C.
Attachment
C.C. Mr. David A. Dodge
Deputy Minister of Finance
Bill Kerr
957-2139
August 25, 1995
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