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: Amend the facts and proposed transactions in ruling 2000-008726.
Position: N/A
Reasons: Amendments are not material and will not affect the rulings given.
XXXXXXXXXX 2001-009182
XXXXXXXXXX, 2001
Dear XXXXXXXXXX:
Re: XXXXXXXXXX
Advance Income Tax Ruling 2000-008726, dated XXXXXXXXXX, 2001
This is in reply to your letter dated XXXXXXXXXX, wherein you advised us of certain amendments to the proposed transactions described in the above-referenced Advance Income Tax Ruling (hereinafter referred to as the "Ruling Letter").
Any reference herein to paragraphs are references to those 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:
1. The reference to "paragraph 9" in the definition of "Non-QLP Partnership" in paragraph 1(k) is hereby deleted and replaced by "paragraph 10".
2. The reference to "paragraph 10" in the definition of "Non-QLP Partnership Agreement" in paragraph 1(l) is hereby deleted and replaced by "paragraph 11".
3. The reference to "Act" in paragraph 3 is hereby deleted and replaced by "Income Tax Act (the "Act")".
4. The last sentence of paragraph 10 is hereby deleted and replaced by:
"The general partner of the Non-QLP Partnership will be the same as that of the Partnership. In addition, with the exception of the insertion of one additional limited partner (which limited partner will be a newly formed corporation owned by some or all of the principals of Aco and will be capitalized with a nominal amount), the limited partners of the Non-QLP Partnership will be the same as those of the Partnership."
Notwithstanding the above changes, we confirm that, subject to the conditions set out therein, the ruling given 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 70-6R4 dated January 29, 2001, provided that the proposed transactions are completed by XXXXXXXXXX.
Yours truly,
XXXXXXXXXX
for Director
Financial Industries Division
Income Tax Rulings Directorate
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© Her Majesty the Queen in Right of Canada, 2001
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