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: Amendment to proposed transactions describing the date of the payout of phantom stock units credited to a participant's notional account.
Position: Amendment to proposed transactions provided.
Reasons: Amendment does not affect rulings.
XXXXXXXXXX
XXXXXXXXXX 2000-004347
XXXXXXXXXX
Attention: XXXXXXXXXX
XXXXXXXXXX, 2000
Dear Sirs:
Re: XXXXXXXXXX (the "Company") (XXXXXXXXXX)
Advance Income Tax Ruling 2000-003697, dated XXXXXXXXXX, 2000
This is in reply to your letter of XXXXXXXXXX, wherein you requested an amendment to a proposed transaction described in the above-referenced Advance Income Tax Ruling (hereinafter referred to as the "Ruling Letter").
Any reference herein to a paragraph is a reference to a paragraph contained in the Ruling Letter and any defined terms used in this letter have the meanings assigned to them in the Ruling Letter.
The Ruling Letter is hereby amended as follows:
The first sentence in the second paragraph in 6(g) is hereby deleted and replaced by:
"The Member or his or her estate may file a written notice of redemption with the Company specifying a date (the "Redemption Date") within the period commencing on the Termination Date and ending on a date that is no later than 15 days prior to the end of the one year period commencing on the Termination Date."
Notwithstanding the above change, we confirm that, subject to the conditions set out in the Ruling Letter, the rulings provided in the Ruling Letter will continue to be binding on the Canada Customs and Revenue Agency in accordance with the practice outlined in Information Circular 70-6R3, dated December 30, 1996, provided the Plan is implemented on or before XXXXXXXXXX.
Yours truly,
XXXXXXXXXX
for Director
Financial Industries Division
Income Tax Rulings Directorate
Policy & Legislation Branch
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