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:
Minor change in facts.
Position:
Change does not affect rulings given in 991942.
Reasons:
The plan meets all the conditions in paragraph (d) of Regulation 6801.
XXXXXXXXXX 993097
Attention: XXXXXXXXXX
XXXXXXXXXX, 1999
Re: Advance Income Tax Ruling
XXXXXXXXXX (the "Corporation") - XXXXXXXXXX
Deferred Share Unit Plan (the "Plan")
This is in reply to your verbal request of XXXXXXXXXX, in which you requested clarifications and amendments to Advance Income Tax Ruling 991942, regarding the above Plan.
We agree that paragraph 3(a) on page 3 of the above ruling letter should be amended to reflect the fact situation as agreed in previous telephone conversations. Hence, we have revised the said paragraph which is reproduced below in its amended version.
3. The relevant terms of the Plan are as follows:
(a) Every person who is a Director and/or an Executive Officer on XXXXXXXXXX, may execute a prescribed form electing to become a Member as of XXXXXXXXXX. Every person who, having never held office as a Director or an Executive Officer becomes a Director or an Executive Officer after XXXXXXXXXX, may execute a prescribed form electing to be a Member effective as of the next XXXXXXXXXX which is at least 30 days after the filing of the prescribed form with the Corporation.
The amendments to this paragraph will not impact on the binding effect of the rulings given in Advance Income Tax Ruling 991942, which will remain binding as described therein.
Yours truly,
for Director
Financial Industries Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation
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