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.
952848
XXXXXXXXXX Cal Brown
(613) 957-8980
Attention: XXXXXXXXXX
March 18, 1996
Dear Sirs:
Re: Partnership Guarantee
This is in reply to your letter of October 30, 1995, concerning partnership guarantees and indemnities. We apologize for the delay in replying to your request.
You have requested that we reconcile two positions that were given by Revenue Canada in 1990 and 1991 with respect to guarantees that were provided with respect to debt related to the acquisition of a limited partnership unit.
There have been significant changes to the relevant law since these dates, consequently there is limited value in reconciling these "non-binding" opinions. If you are concerned about a specific case where the 1990 and 1991 positions are relevant, you may wish to discuss the matter with officials of the local Tax Services Office.
Yours truly,
for Director
Manufacturing Industries, Partnerships
and Trusts Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation Branch
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© Her Majesty the Queen in Right of Canada, 1996
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© Sa Majesté la Reine du Chef du Canada, 1996
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