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 proposed transactions
Position: Confirmed rulings granted in ruling 2002-013308
Reasons: Minor changes do not affect rulings
XXXXXXXXXX 2003-005381
XXXXXXXXXX, 2004
Dear XXXXXXXXXX:
Re: XXXXXXXXXX
Supplementary Advance Income Tax Ruling
This is in reply to your letter of XXXXXXXXXX requesting certain changes to our advance income tax ruling number 2002-013308 dated XXXXXXXXXX, 2002 (the "Ruling"). Capitalized terms used in this letter have the meanings given to them in the Ruling.
Changes to Proposed Transactions
You advised that the Proposed Transactions described in Paragraphs 19 to 25 have been implemented. It is now proposed that the Proposed Transactions described in Paragraphs 26 to 40 will be implemented in XXXXXXXXXX. It is no longer proposed that the Proposed Transactions described in Paragraphs 41 to 80 will be implemented. The Proposed Transaction described in Paragraph 81 will be implemented after those described in Paragraph 40.
In addition, in Paragraph 36, the shares of the Newlosscos will be acquired by either Bco or another profitable corporation in the Opco Group.
Confirmation
Notwithstanding the above changes, we confirm that Ruling A, Rulings D(1) to (7), Ruling E as it relates to Paragraphs 33 and 34, Ruling F as it relates to the amalgamations described in Paragraphs 38 and 39, Ruling G as it relates to Paragraphs 40 and 81, Ruling H, Ruling I as it relates to Paragraph 32, Ruling J as it relates to Paragraph 35, Ruling K
as it relates to Paragraph 36, Rulings L(1) and (2), Ruling M as it relates to Paragraphs 38 and 39, Ruling N as it relates to Paragraph 26, and Rulings O, P, and Q, as given in the Ruling, will continue to be binding on the Canada Customs and Revenue Agency subject to the same limitations and qualifications set out therein, provided that the proposed transactions are completed on or before XXXXXXXXXX.
Yours truly,
for Director
Reorganizations and Resources Division
Income Tax Rulings Directorate
Policy and Legislation Branch
3
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