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Ruling

2009 Ruling 2009-0324861R3 - Loss Consolidation

LP1 and LP2 directly hold a total of approximately XXXXXXXXXX % of the common shares of OpCo. 14. ... X controls a number of taxable Canadian corporations that collectively hold approximately XXXXXXXXXX % of the issued and outstanding SVS. ... The management of Lossco and NewCo has concluded that the interest rate to be charged on the NewCo Demand Note will not exceed XXXXXXXXXX %. 27. ...
Ruling

2011 Ruling 2010-0370751R3 - Loss consolidation

At no time since the XXXXXXXXXX taxation year has any single shareholder or related group of shareholders acquired more than XXXXXXXXXX % of the shares giving the right to vote at an annual general meeting of shareholders, i.e., there has not been an acquisition of control of Lossco. 6. ... Lossco has a permanent establishment solely in the province of XXXXXXXXXX and allocates XXXXXXXXXX % of its taxable income or loss to that province. ... The Profitco Note will bear simple interest at XXXXXXXXXX % per annum. ...
Ruling

2010 Ruling 2010-0377281R3 - Interest Deductibility

Holdco 1 owns approximately XXXXXXXXXX % of the outstanding equity interest of Foreignco 1. 4. ... OpLLC 2 owns XXXXXXXXXX % of the partnership interests in OpLLP. 16. OpLLC 3 is a limited liability company governed by the laws of XXXXXXXXXX. OpLLC 3 does not carry on an active business and its only asset is the XXXXXXXXXX % partnership interest it holds in OpLLP. 17. ...
Ruling

2009 Ruling 2009-0316961R3 - Donation of flow-through shares

Under the terms of the subscription agreement for the Shares, the Resource Company has committed to use the proceeds of the offering for exploration on its properties in XXXXXXXXXX. 12) Pursuant to the Engagement Letter, the Agents will earn a cash fee equal to XXXXXXXXXX % of the gross proceeds of the private placement and that number of broker warrants equal to XXXXXXXXXX % of the aggregate number of Shares issued pursuant to the private placement. ... If a Charity wished to hold the donated Shares and sell them later (either within the hold period of XXXXXXXXXX months from the date of closing to another accredited investor, or after the hold period into the market), the Charity will have to pay the Corporation its XXXXXXXXXX % fee as described in 25 below based on that ultimate sale price. ... The price payable by the Liquidity Providers will be $XXXXXXXXXX per Share. 24) ACO, on behalf of the Liquidity Providers, and the Corporation, on behalf of the Charities, negotiated this price of $XXXXXXXXXX per Share at arm's length, without any direction or influence from the Donors or the Resource Company. 25) As consideration for having arranged the series of transactions, the Charities will pay a fee to the Corporation equal to XXXXXXXXXX % of the gross selling price of any Shares sold to the Liquidity Providers. 26) You advise that no fees, commissions or compensation of any kind will be paid by or received by any participants in the proposed transactions other than those described in 12, 22 and 25 above. 27) You advise that all purchases, transfers and dispositions of the Shares will comply with all applicable securities laws. 28) Other than the tax benefits relating to the CEE, the investment tax credit and the focused flow-through share tax credit, you advise that the Donors will not receive any benefit or advantage in respect of the donation of the Shares to the Charities. ...
Ruling

2009 Ruling 2009-0312611R3 - Loss Consolidation

OPCO has obtained an independent financial opinion from its bankers that indicate that the maximum borrowing capacity is between $XXXXXXXXXX and $XXXXXXXXXX and interest rates would approximate XXXXXXXXXX %. ... Accordingly, New Canco will borrow funds at a rate expected to be XXXXXXXXXX % per annum (the "New Canco Demand Loan Rate"). 7. ... The interest rate will be determined at the time of the proposed transactions, which is according to 6 above believed to be XXXXXXXXXX % and, subsequently, on an annual basis. ...
Ruling

2008 Ruling 2007-0259531R3 - Forgiveness of interest

The offer was ultimately successful and between XXXXXXXXXX, Acquireco acquired XXXXXXXXXX % of the outstanding Target shares. ... XXXXXXXXXX on XXXXXXXXXX, Xco acquired over XXXXXXXXXX % of the shares of Parent. ... During the availability period for the Facility, Acquireco was also obligated to pay Finance I a commitment fee computed at the rate of XXXXXXXXXX % per annum on the daily amount of the undrawn, uncancelled amount of the Facility. ...
Ruling

2008 Ruling 2008-0289331R3 - Reduction of stated capital of public corporation

The paid-up capital of the issued and outstanding shares of Pubco is approximately CAD $ XXXXXXXXXX. 4. ... Subco owns XXXXXXXXXX of the issued and outstanding common shares of Forco 1, representing approximately XXXXXXXXXX %. 8. Forco 2 was incorporated under the laws of XXXXXXXXXX and owns XXXXXXXXXX of the issued and outstanding common shares of Forco 1, representing approximately XXXXXXXXXX %. 9. ...
Ruling

2006 Ruling 2006-0180321R3 - Loss utilization

Parent will use the total proceeds received from the Daylight Loan to make the A Co Loan of $XXXXXXXXXX to A Co "). ... (b) Parent will borrow $ XXXXXXXXXX on a daylight loan basis (the "New Daylight Loan"). ... (c) Newco will use the funds ($XXXXXXXXXX + the amount of the contribution of capital, if any) received through step (a) and (b) above, to redeem the Preferred Shares held by A Co. ...
Ruling

2000 Ruling 1999-0009493 F - TRANSFERT IMMEUBLE-DROITS D'OCCUPATION

En XXXXXXXXXX, Gestion a vendu l'immeuble à la société pour un montant de XXXXXXXXXX $. ... Selon le rapport d'évaluation de l'évaluateur, la juste valeur marchande de l'immeuble détenue par la société s'établit à un montant de XXXXXXXXXX $ en date du XXXXXXXXXX. ... Pour ces fins, elle distribuera ses biens dont, entre autres, l'immeuble de la façon suivante: les actionnaires occupants achèteront, en indivision, l'immeuble détenu par la société pour le prix de XXXXXXXXXX $. ...
Ruling

1999 Ruling 9833243 F - 110.6(8), FUSION

Ces actions sont rachetables au gré du détenteur à XXXXXXXXXX dollars (XXXXXXXXXX $) l'action, i.e. la valeur des actions ordinaires «A» converties en actions «K» et le capital versé par action. 5. ... Le capital-actions autorisé de Société A permet l’émission d’un nombre illimité d’actions sans valeur nominale des catégories suivantes: Actions ordinaires, votantes, participantes; Actions privilégiées catégorie «A», votantes avec restrictions, dividende annuel, fixe, non cumulatif de XXXXXXXXXX pour cent (XXXXXXXXXX%) l'an calculé sur le montant versé pour lesdites actions, rachetables au gré du détenteur; Actions privilégiées catégorie «B», non votantes, dividende annuel, fixe, cumulatif, de XXXXXXXXXX pour cent (XXXXXXXXXX%) l'an calculé sur le montant versé pour toutes lesdites actions, rachetables au gré de la société; Actions privilégiées catégorie «C», non votantes, dividende annuel, fixe, non cumulatif de XXXXXXXXXX pour cent (XXXXXXXXXX%) l'an calculé sur le montant déclaré versé pour lesdites actions et sur la prime de rachat y afférente, rachetables au gré du détenteur; Actions privilégiées catégories «D», non votantes, dividende annuel, variable, non cumulatif d'un minimum de XXXXXXXXXX pour cent (XXXXXXXXXX%) et d'un maximum de XXXXXXXXXX pour cent (XXXXXXXXXX%) l'an calculé sur le montant versé pour lesdites actions, rachetables au gré de la société; Actions privilégiées catégorie «E», non votantes, dividende annuel variable, non cumulatif, égal au XXXXXXXXXX du taux d'escompte de la Banque du Canada en vigueur à la date où il est voté, calculé sur le montant versé pour toutes lesdites actions, rachetables au gré de la société; Actions privilégiées catégorie «F», non votantes, dividende spécial advenant le décès d'un détenteur d'actions de ladite catégorie; Actions privilégiées catégorie «XXXXXXXXXX», non votantes, dividende annuel, fixe, non cumulatif de XXXXXXXXXX pour cent (XXXXXXXXXX%) l'an calculé sur le montant déclaré versé pour toutes lesdites actions et sur la prime de rachat y afférente, rachetables au gré de la société au montant versé ainsi que les dividendes déclarés et non payés s'il y a lieu, plus une prime de rachat; Actions privilégiées catégorie «XXXXXXXXXX», non votantes, dividende annuel, fixe, non cumulatif de XXXXXXXXXX pour cent (XXXXXXXXXX %) l'an calculé sur le montant déclaré versé pour toutes lesdites actions et sur le prime de rachat y afférente, rachetables au gré de la société au montant versé ainsi que les dividendes déclarés et non payés s'il y a lieu, plus une prime de rachat; Actions privilégiées catégorie «XXXXXXXXXX», votantes avec restrictions, dividende annuel, fixe, non cumulatif et correspondant au XXXXXXXXXX du taux de la Banque du Canada à la date à laquelle le dividende est déclaré annuellement, calculé sur le montant déclaré et versé et sur la prime de rachat, rachetables au gré du détenteur pour un montant égal aux dividendes déclarés et non payés ainsi que la prime de rachat de XXXXXXXXXX l'action. 12. ... XXXXXXXXXX fiducies discrétionnaires (dont les actionnaires actuels et les membres de leur famille en seront les bénéficiaires) souscriront à XXXXXXXXXX nouvelles actions ordinaires au prix de XXXXXXXXXX $ chacune et un employé-clé (non lié aux actionnaires actuels) souscrira à XXXXXXXXXX actions ordinaires pour XXXXXXXXXX $. ...

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