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: Request for an Advance Income Tax Ruling
This is in reply to your letter dated July 30, 1993 wherein you made application for an advance income tax ruling with respect to a proposed issuer bid to be made by XXXXXXXXXX (the "Corporation") to its shareholders.
The requested ruling actually pertains to the Corporation's status as an investment corporation. In order for a particular corporation to qualify as an "investment corporation" within the meaning of paragraph 130(3)(a) of the Income Tax Act the conditions set forth therein must be satisfied throughout the corporation's taxation year. As we indicated this factual determination can only be made after the taxation year has ended.
Accordingly an advance income tax ruling, which is a written statement given by the Department to a taxpayer stating how it will interpret specific provisions of the existing Canadian income tax law in application to a definite transaction which the taxpayer is contemplating, cannot be provided with respect to such a determination.
Similarly, as discussed, we are unable to provide an income tax ruling with respect to the transactions conducted in XXXXXXXXXX concerning the transfer of certain of the shares of the Corporation as advance income tax rulings are not provided with respect to completed transactions.
Your deposit will be refunded under separate cover.
We regret that we are unable to be of more assistance at this time.
Yours truly,
for DirectorFinancial Industries DivisionRulings Directorate
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