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.
Principal Issues: Minor Changes to Ruling 2009-032949
Position: Acceptable
Reasons: Maturity Dates
XXXXXXXXXX 2010-035624
XXXXXXXXXX , 2010
Dear XXXXXXXXXX :
Re: Advance Income Tax Ruling 2009-032949 (the "Ruling")
Supplemental Ruling 2009-035174 (the "Supplemental")
XXXXXXXXXX ("B Co") BN XXXXXXXXXX
This is in response to our telephone conversation (XXXXXXXXXX ) of XXXXXXXXXX and to your electronic letter of XXXXXXXXXX , requesting an additional supplemental ruling to the Ruling.
The Ruling, as amended by the Supplemental, is hereby further amended as follows:
The Definition (j) "Concurrent XXXXXXXXXX Lease" is amended to have the concurrent lease in respect of the XXXXXXXXXX mature on XXXXXXXXXX rather than XXXXXXXXXX .
The Definition (m) "Concurrent XXXXXXXXXX Lease" is amended to have the concurrent lease in respect of the XXXXXXXXXX to be entered into by the Trust, as tenant, and B Co, as landlord, to mature on XXXXXXXXXX , rather than XXXXXXXXXX .
As a consequence Ruling G is also amended to change the date of XXXXXXXXXX at the end of the first sentence to XXXXXXXXXX .
Ruling E is amended to replace the final words "...the first taxation year of the Trust shall be considered to commence with the date that the Concurrent XXXXXXXXXX Lease is entered into by the Trust and B Co and the last taxation year of the Trust which will be considered to end on XXXXXXXXXX ." with the following words "...the term of the Concurrent XXXXXXXXXX Lease shall be considered to commence with the date that the Concurrent XXXXXXXXXX Lease is entered into by the Trust and B Co and the last taxation year of the Trust which will be considered to end on XXXXXXXXXX ."
Ruling F is also amended to delete the final words "the first taxation year of the Trust shall be considered to commence with the date that the Concurrent XXXXXXXXXX Lease is entered into by the Trust and B Co and the last taxation year of the Trust will be considered to end on XXXXXXXXXX ." and replaced with the following words "...the term of the Concurrent XXXXXXXXXX Lease shall be considered to commence with the date that the Concurrent XXXXXXXXXX Lease is entered into by the Trust and B Co and to end on XXXXXXXXXX ."
We confirm that the Ruling, as amended by the Supplemental and herein, remains binding on the CRA subject to the same limitations and qualifications set out in the Ruling.
Yours truly,
XXXXXXXXXX
for Director
Financial Sector and Exempt Entities Division
Income Tax Rulings Directorate
Legislative Policy and Regulatory 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, 2010
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, 2010
Email this Content