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.
BACKGROUND:
Supplemental to 2000-004477, as amended by 2000-005790.
Principal Issues:
Impact of changes to investment mix, interest rate and eligibility requirements in proposed transactions.
Position TAKEN:
Ruling confirmed with no changes.
XXXXXXXXXX 2001-007222
XXXXXXXXXX, 2001
Dear XXXXXXXXXX:
Re: Amendments to Advance Income Tax Ruling 2000-004477 (the "Ruling Letter")
XXXXXXXXXX ("Canco") (Business Number # XXXXXXXXXX)
This is in reply to your letters of XXXXXXXXXX, wherein you advised us of certain changes to the proposed transactions surrounding the Ruling Letter and requested confirmation of that earlier ruling, as amended by supplemental advance income tax ruling 2000-005790, dated XXXXXXXXXX, 2001. We also acknowledge our telephone conversation (XXXXXXXXXX) of XXXXXXXXXX.
As requested, the Ruling Letter is hereby amended as follows:
1. The third paragraph of 9 is hereby replaced with:
XXXXXXXXXX
2. The second paragraph of 10 is hereby replaced with:
XXXXXXXXXX
3. The first sentence of the second paragraph of 14 is hereby replaced with:
XXXXXXXXXX
4. The last sentence of 16 is hereby replaced with:
Accordingly, loans to these individuals will be made on substantially the same terms and conditions as apply to Canadian resident employees XXXXXXXXXX , including the same schedule of mandatory principal repayments and an interest rate equal to the XXXXXXXXXX."
We confirm that the above changes will not, of themselves, affect the rulings given in the Ruling Letter, as amended by our letter of XXXXXXXXXX.
Yours truly,
XXXXXXXXXX
for Director
Business and Partnerships Division
Income Tax Rulings Directorate
Policy and Legislation Branch
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© Her Majesty the Queen in Right of Canada, 2001
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© Sa Majesté la Reine du Chef du Canada, 2001
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