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: Rep wanted to delete representation that post butterfly transfer would not exceed the 10% test required by paragraph 55(3.1)(c) and rely on the exclusion regarding the property not being convertible into any other property.
Position: agreed with change
Reasons: obtained representation that property is not convertible. no reason to deny change.
XXXXXXXXXX 2001-009806
XXXXXXXXXX, 2001
Dear XXXXXXXXXX:
Re: Advance Income Tax Ruling #2000-004996 dated XXXXXXXXXX, 2001 issued to
XXXXXXXXXX, as amended by supplemental ruling #2001-008089 dated XXXXXXXXXX, 2001 (the "Ruling Letter")
We are writing in response to your letter 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:
The amount of XXXXXXXXXX in paragraph 7 will be changed to XXXXXXXXXX.
The following will be added at the end of paragraph 8. "The XXXXXXXXXX is not convertible into any other property."
The last sentence of paragraph 34 will be deleted.
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 the dates described in the Ruling Letter.
Yours truly,
for Director
Reorganizations and Resources 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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