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.
XXXXXXXXXX
Attention: XXXXXXXXXX
Dear Sirs:
RE: Subsection 230(3) of the Income Tax Regulations (the "Regulations")
This is in reply to your letter of May 4, 1993 wherein you requested our opinion regarding the requirement under subsection 230(3) of the Regulations to file an information return in the following circumstances:
A corporation has only one class of common shares issued and outstanding. The common shares will be consolidated on a ten for one basis. The consolidation is effected pursuant to an amendment to the articles of the corporation. There is no change in the total capital represented by the issuer or in the interests, rights, privileges of the shareholders and there are no concurrent changes in the capital structure of the corporation.
We are of the view that no information return is required to be filed pursuant to subsection 230(3) of the Regulations on a consolidation of shares as described above.
The foregoing comment is given in accordance with the practice referred to in paragraph 21 of Information Circular 70-6R2 and is not binding on Revenue Canada, Taxation.
Yours truly,
for DirectorReorganizations and Foreign DivisionRulings DirectorateLegislative and Intergovernmental Affairs 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, 1993
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, 1993
Email this Content