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.
Principal Issues: none
Position: n/a
Reasons: n/a
XXXXXXXXXX 2000-003357
Attention: XXXXXXXXXX
XXXXXXXXXX, 2000
Dear Sirs:
Re: Advance income tax ruling #3-991738 dated
XXXXXXXXXX, 1999 issued to XXXXXXXXXX
XXXXXXXXXX as amended by
supplemental ruling #2000-002056 dated
XXXXXXXXXX, 2000 (the "Ruling Letter")
We are writing in response to your facsimile transmission dated XXXXXXXXXX wherein you advised us of certain changes to the facts and proposed transactions described in the Ruling Letter. As a result, the following changes are made:
1. The following will be added at the end of paragraph 12:
"XXXXXXXXXX also owns other vacant land which may be sold by XXXXXXXXXX, prior to the completion of the proposed transactions described in paragraphs 21 to 57, inclusive, to purchasers who deal at arm's length with XXXXXXXXXX. The consideration received by XXXXXXXXXX for any such transactions will consist solely of cash or indebtedness that is not convertible into other property, or a combination thereof."
2. The following will be added at the end of paragraph 27:
"Each of XXXXXXXXXX Landco and XXXXXXXXXX Landco may then sell some, or all, of its interest in certain Lands, at fair market value, to purchasers who deal at arm's length with XXXXXXXXXX Landco and XXXXXXXXXX Landco for consideration consisting of cash or indebtedness that is not convertible into other property, or a combination thereof."
3. The reference in Ruling B to "Lands" is changed to "Buildings".
You have advised us that there have not been any other changes to the relevant facts and proposed transactions described in the Ruling Letter. Subject to the conditions stated therein, the Ruling Letter will continue to be binding on the Canada Customs and Revenue Agency provided that the proposed transactions are completed by XXXXXXXXXX.
Yours truly,
for Director
Reorganizations and International Division
Income Tax Rulings Directorate
Policy and Legislation Branch
All rights reserved. Permission is granted to electronically copy and to print in hard copy for internal use only. No part of this information may be reproduced, modified, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, or stored in a retrieval system for any purpose other than noted above (including sales), without prior written permission of Canada Revenue Agency, Ottawa, Ontario K1A 0L5
© Her Majesty the Queen in Right of Canada, 2000
Tous droits réservés. Il est permis de copier sous forme électronique ou d'imprimer pour un usage interne seulement. Toutefois, il est interdit de reproduire, de modifier, de transmettre ou de redistributer de l'information, sous quelque forme ou par quelque moyen que ce soit, de facon électronique, méchanique, photocopies ou autre, ou par stockage dans des systèmes d'extraction ou pour tout usage autre que ceux susmentionnés (incluant pour fin commerciale), sans l'autorisation écrite préalable de l'Agence du revenu du Canada, Ottawa, Ontario K1A 0L5.
© Sa Majesté la Reine du Chef du Canada, 2000
Email this Content