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 95-07737M
ADM'S OFFICE
RETURN TO RULINGS, 15th Floor, Albion Tower
November 29, 1995
XXXXXXXXXX
Dear XXXXXXXXXX:
The Honourable David Anderson, Minister of National Revenue, has asked me to respond to your letter of October 10, 1995, addressed to Mr. Harley Johnson, about the proposed elimination of the deferral of tax on business income, as announced in the February 27, 1995 budget.
The role of Revenue Canada is to administer and enforce the Income Tax Act as passed by Parliament. 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. M. Francino, Assistant Deputy Minister, Tax Policy Branch, Department of Finance.
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.
I appreciate being made aware of your concerns.
Yours sincerely,
Denis Lefebvre
Assistant Deputy Minister
Policy and Legislation Branch
Attachment
C.C. Mr. M. Francino
Assistant Deputy Minister
Tax Policy Branch
Department of Finance
Patrick Hopper
Minister's Mail
Winnipeg Taxation Centre
Bill Kerr
957-2139
November 2, 1995
952825
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© Her Majesty the Queen in Right of Canada, 1995
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© Sa Majesté la Reine du Chef du Canada, 1995
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