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 CCRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ADRC.
Principal Issues: Minor changes to facts
Position: Still binding as per the Ruling 2003-002803
Reasons:
XXXXXXXXXX 2003-004699
XXXXXXXXXX, 2003
Dear XXXXXXXXXX:
Re: Supplementary Advance Income Tax Ruling
XXXXXXXXXX ("B Co")
XXXXXXXXXX ("A Co")
This is in reply to your letter of XXXXXXXXXX, and is supplemental to our advance income tax ruling number 2003-002803 dated XXXXXXXXXX, 2003 ("the Ruling") on behalf of the above named corporations.
As a result of your letter, the following changes will be made to the Ruling:
1. At paragraph 39, in the 7th line of the second paragraph under (i), the word "rent" is replaced with "Rent" in the phrase "XXXXXXXXXX Land rent".
2. After (vi) of paragraph 39, the following is added:
(vii) Paragraph XXXXXXXXXX provides that the landlord will not be liable for any losses or damages suffered by the tenant, or any of its subtenants or any occupants of the XXXXXXXXXX, as a consequence of the construction on the XXXXXXXXXX so long as construction on the XXXXXXXXXX is completed in a reasonable and expeditious manner, all as more particularly set forth therein.
This provision will be amended so that the non-liability of the landlord will be absolute, regardless of how the construction on the XXXXXXXXXX is carried out.
(viii) Paragraph XXXXXXXXXX provides that if the XXXXXXXXXX Lease is terminated, the tenant will be granted certain temporary easements by the landlord.
This provision will be deleted.
3. In Ruling E, the reference to paragraph 33 on the second line is changed to paragraph 35. Also, in that same Ruling E, in the 7th line, the word "...maybe..." is changed to the words "...may be...".
We confirm that the Ruling, as amended herein, remains binding on the Canada Customs and Revenue Agency subject to the same limitations and qualifications set out in the Ruling.
Yours truly,
XXXXXXXXXX
For Director
Financial Industries Division
Income Tax Rulings Directorate
Policy and Legislation Branch
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© Her Majesty the Queen in Right of Canada, 2003
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