{"id":1349,"date":"2014-12-08T17:02:07","date_gmt":"2014-12-08T17:02:07","guid":{"rendered":"https:\/\/thor.ca\/\/blog\/?p=1349"},"modified":"2014-12-08T17:02:07","modified_gmt":"2014-12-08T17:02:07","slug":"cra-says-rollover-not-available-on-wind-up-of-a-partnership","status":"publish","type":"post","link":"https:\/\/www.thor.ca\/blog\/2014\/12\/cra-says-rollover-not-available-on-wind-up-of-a-partnership\/","title":{"rendered":"CRA says rollover not available on wind-up of a partnership"},"content":{"rendered":"<p>Under s. 98(3), a partnership may be dissolved on a tax-deferred basis generally if the partners receive an undivided interest in the partnership\u2019s property and an election is timely filed with the Canada Revenue Agency (CRA).\u00a0 In <a href=\"http:\/\/thor.ca\/blog\/wp-content\/uploads\/2014\/12\/2014-0540611E5.pdf\">2014-0540611E5<\/a>, the CRA said that an election filed under s. 98(3) (Form T2060) must refer to <em>all<\/em> the partnership\u2019s property.\u00a0 In the CRA\u2019s view, if an election does not refer to <em>all<\/em> the partnership property, the <em>entire<\/em> election is invalid.\u00a0 Furthermore, the CRA said that the Minister has no discretion to amend an (incomplete) election, because s. 98(3) is not among the provisions referred to in s. 600 of the Regulations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Under s. 98(3), a partnership may be dissolved on a tax-deferred basis generally if the partners receive an undivided interest in the partnership\u2019s property and an election is timely filed with the Canada Revenue Agency (CRA).\u00a0 In <a href=\"http:\/\/thor.ca\/blog\/wp-content\/uploads\/2014\/12\/2014-0540611E5.pdf\">2014-0540611E5<\/a>, the&hellip;<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-1349","post","type-post","status-publish","format-standard","hentry","category-corporate-tax"],"_links":{"self":[{"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/posts\/1349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/comments?post=1349"}],"version-history":[{"count":0,"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/posts\/1349\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/media?parent=1349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/categories?post=1349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/tags?post=1349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}