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: Supplemental ruling regarding election to file an agreement in prescribed form (Form T2047) in accordance with paragraph 78(1)(b) of the Income Tax Act to have the accrued interest deemed paid by the Limited Partnership and deemed received by the Taxpayer for income tax purposes.
Position: Revised paragraph 22 of the Original Ruling.
Reasons: Clarification of wording in ruling.
XXXXXXXXXX 2010-036561
XXXXXXXXXX , 2010
Dear XXXXXXXXXX :
Re: Advance Income Tax Ruling Request: XXXXXXXXXX (the "Taxpayer")
We are writing regarding supplemental advance income tax rulings with respect to advance income tax rulings 2008-027273 and 2008-027336 (the "Original Rulings") dated XXXXXXXXXX , 2009.
Further to the telephone conversation (XXXXXXXXXX ) of XXXXXXXXXX , the following sentence is added to the end of paragraph 22 of the Original Rulings:
22. Notwithstanding this fact, as a protective measure, the Limited Partnership and the Taxpayer will annually file an agreement in prescribed form (Form T2047) in accordance with paragraph 78(1)(b) of the Act to have the accrued interest deemed paid by the Limited Partnership and deemed received by the Taxpayer for income tax purposes.
The Canada Revenue Agency ("CRA") confirms that all of the rulings provided in the Original Rulings shall continue to apply to the Taxpayer in the manner set out in the Original Rulings.
Yours truly,
XXXXXXXXXX
for Director
Business and Partnerships Division
Income Tax Rulings Directorate
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