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.
Principal Issues: Request for minor amendments to the facts and proposed transactions described in the Ruling.
Position: Requested amendments were incorporated into the Ruling by way of a Supplemental Ruling document.
Reasons: The amendments do not affect the Rulings given and also by incoporating the requested changes we provide the ruling applicant with the comfort and certainty intended by the ruling document.
XXXXXXXXXX 2005-014474
XXXXXXXXXX, 2005
Dear XXXXXXXXXX:
Re: Advance Income Tax Ruling
XXXXXXXXXX
XXXXXXXXXX
This is in reply to your facsimile dated XXXXXXXXXX in which you requested amendments to the facts and proposed transactions set out in the Advance Income Tax Ruling letter (document # 2005-011909) issued to the above-referenced taxpayers on XXXXXXXXXX, 2005 (the "Ruling").
It is our understanding that the series of proposed transactions described in the Ruling have not been completed and accordingly, following our review of your request, the Ruling is revised as follows:
? In paragraph 2, line 1, the word, "CBCA" is replaced with the words XXXXXXXXXX.
? In paragraph 3, lines 1 and 2, the words, XXXXXXXXXX are replaced with the word "CBCA".
? In paragraph 14, lines 5 and 6, the words "substantially the same people who are the officers and management team of Business Trust" are replaced with the words "selected by its shareholder, Business Trust, and will generally consist of persons who are officers or directors of Business Trust or an affiliate and may from time to time include one or more independent outside directors".
? In paragraph 15, line 2, the words "laws of the province of XXXXXXXXXX" are replaced by the word "CBCA".
Notwithstanding the above-mentioned changes, we confirm that the rulings given in the Ruling will continue to be binding on the Canada Customs and Revenue Agency in the manner described therein, provided that the proposed transactions are completed by XXXXXXXXXX.
Yours truly,
XXXXXXXXXX
for Director
Financial Sector and Exempt Entities Division
Income Tax Rulings Directorate
Policy and Planning Branch
All rights reserved. Permission is granted to electronically copy and to print in hard copy for internal use only. No part of this information may be reproduced, modified, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, or stored in a retrieval system for any purpose other than noted above (including sales), without prior written permission of Canada Revenue Agency, Ottawa, Ontario K1A 0L5
© Her Majesty the Queen in Right of Canada, 2005
Tous droits réservés. Il est permis de copier sous forme électronique ou d'imprimer pour un usage interne seulement. Toutefois, il est interdit de reproduire, de modifier, de transmettre ou de redistributer de l'information, sous quelque forme ou par quelque moyen que ce soit, de facon électronique, méchanique, photocopies ou autre, ou par stockage dans des systèmes d'extraction ou pour tout usage autre que ceux susmentionnés (incluant pour fin commerciale), sans l'autorisation écrite préalable de l'Agence du revenu du Canada, Ottawa, Ontario K1A 0L5.
© Sa Majesté la Reine du Chef du Canada, 2005
Email this Content