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.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
XXXXXXXXXX 1-963292
XXXXXXXXXX
Attention: XXXXXXXXXX
XXXXXXXXXX, 1996
Dear Sirs:
Re: XXXXXXXXXX
Advance Income Tax Ruling 3-953297 - XXXXXXXXXX, 1996 (the "Ruling")
Supplemental Ruling 1-962964 - XXXXXXXXXX, 1996
Supplemental Ruling 1-963243 - XXXXXXXXXX, 1996
This cancels and replaces supplemental ruling 1-963243 issued XXXXXXXXXX, 1996. In this regard, immediately after the first sentence on paragraph 13, the following two sentences are hereby added to the Ruling:
Each non-retiring shareholder and Newco will jointly elect, in prescribed form and within the time determined under subsection 85(6), for the provisions of subsection 85(1) to apply to the transfer of that shareholder's XXXXXXXXXX shares to Newco. The agreed amount in respect of the transfer will be $XXXXXXXXXX a share.
Yours truly,
for Director
Reorganizations and International Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation Branch
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