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.
SUMMARY: Change in facts—ruling 2006-018810—ITA-55(3)(b)—Advance income tax ruling—Amendments to advance income tax rulingissued in 2006 due to a change in facts.
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: Change in facts.
POSITION: Granted.
REASONS: Corrects an unintended result.
XXXXXXXXXX 2006-021652
XXXXXXXXXX, 2006
Dear XXXXXXXXXX:
Subject: XXXXXXXXXX.—Change in Facts to Advance
Income Tax Ruling #2006-018810 [] (the “Ruling”)
This is in reply to your request for a minor amendment to the Ruling that was issued to the above-noted taxpayer on XXXXXXXXXX, 2006. Unless otherwise defined, all capitalized terms have the meanings assigned to them in the Ruling and all references to paragraph numbers are to those in the Ruling.
We hereby confirm that the Ruling is amended as follows:
The last sentence of the first paragraph in Paragraph 21 is replaced with the following:
As part of the distribution, each of the shareholders of DC will each agree to assume its appropriate pro rata share of DC's liabilities.
Notwithstanding the above, in accordance with the practice outlined in Information Circular 70-6R5, dated May 17, 2002, we confirm that subject to the conditions and time limit set out in the Ruling, the Ruling, as amended by the above, will continue to be binding on the Canada Revenue Agency as described therein.
Yours truly,
XXXXXXXXXX
Industry Sector Specialist
Corporate Reorganizations Section II
Reorganizations and Resources Division
Income Tax Rulings Directorate
Legislative Policy and Regulatory Affairs Branch
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© Her Majesty the Queen in Right of Canada, 2006
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© Sa Majesté la Reine du Chef du Canada, 2006
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