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.
Principal Issues: Application of ITAR 26(5).
Position: N/A - shares were not owned on June 18, 1971.
Reasons:
XXXXXXXXXX 1-973357
XXXXXXXXXX
Attention: XXXXXXXXXX
XXXXXXXXXX, 1997
Dear Sir:
Re: XXXXXXXXXX
Advance Income Tax Ruling 3-972019 - XXXXXXXXXX 1997
(the "Ruling")
This is further to our conversation of XXXXXXXXXX in which you requested a supplemental advance income tax ruling in respect of the Ruling. In this regard, the Ruling is hereby amended by the addition of the following ruling.
C.The provisions of subsection 26(5) of the ITAR will not be applicable for the purposes of computing the adjusted cost base of:
(i) the XXXXXXXXXX Aco Class XXXXXXXXXX shares at the time of their transfer by the Estate to Numberco as described in Paragraph 14; and
(ii) the XXXXXXXXXX Numberco Class XXXXXXXXXX preferred shares at the time of their redemption by Numberco as described in Paragraph 15.
Yours truly,
for Director
Reorganizations and International Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation 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, 1996
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, 1996
Email this Content