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 an extension of time to implement the proposed transactions.
Position: Time to implement the proposed transactions extended to XXXXXXXXXX.
Reasons: Based on previous positions.
XXXXXXXXXX 2014-054422
XXXXXXXXXX, 2014
Dear XXXXXXXXXX:
Re: XXXXXXXXXX)
Time Extension to Advance Income Tax Ruling 2011-041581
This is in reply to your letter dated XXXXXXXXXX, wherein you proposed certain amendments (the "Amendments") to advance income tax ruling number 2011-041581 that was issued to the above-captioned taxpayer on XXXXXXXXXX, 2014 (the "Ruling"), and you requested:
(a) a supplemental ruling ("Supplemental Ruling") to confirm that the Ruling will continue to be binding on the Canada Revenue Agency (the "CRA") in light of the Amendments; and
(b) an extension of time to implement the proposed transactions as described therein.
You advise that the proposed transactions described in the Ruling have not yet been implemented due to delay in obtaining a ruling from XXXXXXXXXX.
Confirmation
We hereby confirm that, subject to:
(i) the issue of the Supplemental Ruling; and
(ii) the conditions, limitations, qualifications and comments set out in the Ruling,
the Ruling will continue to be binding on the CRA, provided that the proposed transactions described therein are completed on or before XXXXXXXXXX.
Yours truly,
XXXXXXXXXX
Section Manager
for Division Director
Reorganizations Division
Income Tax Rulings Directorate
Legislative Policy and Regulatory Affairs Branch
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