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| Home : Deans Knight Income Corporation Announces Receipt of Proposal Letter from the Canada Revenue Agency |
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Jan 28
2014 |
Deans Knight Income Corporation Announces Receipt of Proposal Letter from the Canada Revenue Agency |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 27, 2014) - Deans Knight Income Corporation (the "Company") (TSX:DNC) has received a proposal letter ("Proposal Letter") from the Canada Revenue Agency ("CRA") wherein the CRA states that it intends to reassess the Company and deny the deduction of certain non-capital losses and other tax attributes in the Company's taxation years ending in 2009 to and including 2012. The 2013 year is not included in the scope of the CRA's current audit, but any final outcome would also apply to the 2013 and future taxation years. The CRA has indicated in the Proposal Letter that it intends to deny the use of certain tax attributes by the Company on the basis that an acquisition of control of the Company occurred and on the basis of the General Anti-Avoidance Rule in the Income Tax Act (Canada). |
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| Source:http://www.marketwired.com/mw/release.do?id=1872848&sourceType=3 |
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