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The stapled securities created by the Spin-off were created solely for US tax reasons; and in particular, so that the financing would be held by a trust that qualifies as a fixed investment trust in the US such that the investors, and not the trust would be considered the creditors and recipients of the interest payments. ... To the best of your knowledge and that of your client, none of the issues involved in the ruling request is: in an earlier return of your client or a related person, being considered by a tax services office or taxation center in connection with a previously filed tax return of your client or a related person, under objection by your client or a related person, before the courts or, if a judgment has been issued, the time limit for appeal to a higher court has not expired, or the subject of a ruling previously considered by the Directorate in respect of your client or a related person other than ruling XXXXXXXXXX. ... The Finance Trust Declaration of Trust will provide that Finance Trust shall not undertake any activity, take any action, omit to take any action or make any investment which would result in Finance Trust not being considered a "mutual fund trust" for purposes of the Act or not being an investment trust classified as a trust under the Code and the applicable Code Regulations (a "fixed investment trust"). ...

For greater certainty, for purposes of the Distribution: (a) any tax accounts of DCO, such as the balance of non-capital losses, net capital losses, RDTOH and CDA, if any, will not be considered a property; (b) no amount will be considered to be a liability unless it represents a true legal liability which is capable of quantification; and (c) the amount of any deferred income tax, if any, will not be considered a liability. ... To the best of your knowledge and that of the taxpayers involved, none of the issues involved in this ruling is: (i) involved in an earlier return of the taxpayers or a related person, (ii) being considered by a tax services office or taxation centre in connection with a previously filed tax return of the taxpayers or a related person, (iii) under objection by the taxpayers or a related person, (iv) before the courts or if a judgment has been issued, the time limit for appeal to a higher court has expired, or (v) the subject of a ruling previously issued by the Income Tax Rulings Directorate. 39. ...

For greater certainty, any tax accounts, such as the balance of any non-capital loss, net capital loss, CSOH, RDTOH or CDA of DC will not be considered property for this purpose. ... The main purpose for having Holdco B issue Class A Preference Shares to each of Child B3 and Child B4 as described in Paragraph 19(a) and to each of Trust B3 and Trust B4 as described in Paragraph 22(a) is to ensure that neither Child B3 nor Child B4 would be considered a specified shareholder of Holdco B because if Child B3 and/or Child B4 is a specified shareholder of Holdco B, XXXXXXXXXX may be deemed to receive interest on such transferred property under subsection 74.4(2). 51. The main purpose for the Post-Butterfly Transaction described in Paragraph 42 is to ensure that neither Child B3 nor Child B4 would be considered a specified shareholder of Holdco B after such transaction for the same reason described in Paragraph 49. 52. ...

For greater certainty, any tax accounts will not be considered property in determining the fair market value of the property of DC for the purposes of the Proposed Transactions and none of the Spin-off Assets will include any property that is a depreciable property or an eligible capital property. ... Each holder of an Existing DC Broker Option that has not expired immediately before the amendment by DC of the Existing DC Broker Options resulting in Amended DC Broker Options as described in Paragraph 25, will not be considered to (a) have disposed of such holder's Existing DC Broker Options that remained outstanding at the Transaction Date, or (b) have realized a benefit under subsection 15(1), solely as a result of such amendment as described in Paragraph 25. ... Each holder of an Existing DC Warrant that has not expired immediately before the amendment by DC of the Existing DC Warrants, resulting in the Amended DC Warrants as described in Paragraph 26, will not be considered to (a) have disposed of such holder's Existing DC Warrants that remained outstanding at the Transaction Date, or (c) have realized a benefit under subsection 15(1), solely as a result of such amendment as described in Paragraph 26. ...

To the best of your knowledge and that of the taxpayers involved: (i)none of the issues involved in the requested rulings is being considered by a Tax Services Office or a Taxation Centre in connection with a tax return already filed, and (ii)none of the issues involved in the requested rulings is the subject of any notice of objection or is under appeal. ... For greater certainty, any tax accounts of DC1 will not be considered to be property of DC1 for purposes of the proposed transactions described herein. ... For greater certainty, any tax accounts of DC2 will not be considered to be property of DC2 for purposes of the proposed transactions described herein. 30.In determining the net fair market value of its cash or near cash property, investment property and business property immediately before the property transfers described in paragraph 31 below, the liabilities of DC2 will be allocated to, and be deducted in the calculation of, the net fair market value of each such type of property of DC2 in the following manner: (a) Current liabilities of DC2 will be allocated to cash or near cash property of DC2 in the proportion that the fair market value of each such property is of the fair market value of all cash or near cash property of DC2. ...

Common Shares are held by a particular holder thereof as capital property, the provisions of subsection 87(4) (excluding paragraphs 87(4)(c) to (e)) will apply to such holder, such that the holder will be considered to have received Amalco Common Shares in consideration for the disposition by such holder of the Y Co. ... (M) Control, for purposes of the Act, of X Co. will not be considered to be have been acquired by a person or group of persons by reason only of the Proposed Transactions. ... (R) A Warrant Holder as described above will not be considered to (a) have disposed of any Series A Warrants that remain outstanding at the Transaction Date, or (b) have realized a benefit under subsection 15(1) as a result of the execution by Y Co. and the subsequent assumption by Amalco of Y Co.'s obligations of the supplemental indenture described above, in and by itself. ...

For greater certainty, property described in paragraphs (a) to (d) used to repay the Ico Note will not be considered to be property that is substituted for the Ico Note. 49. ... This transfer is being considered XXXXXXXXXX for the Dco XXXXXXXXXX Preferred Shares to be held by Ico rather than Amalco 2. ... For greater certainty, the Proposed Transactions described above will not, in and by themselves, be considered to result in any disposition or increase in interest described in any of subparagraphs 55(3)(a)(i) to (v). ...

To the best of your knowledge, and that of the taxpayers named herein, none of the issues involved in this advance income tax ruling request is under objection or appeal or is being considered by any tax services office or taxation centre of the CCRA in connection with any income tax return already filed. ... For this purpose, XXXXXXXXXX/Aco or XXXXXXXXXX /Bco, as the case may be, will be considered to have significant influence over a corporation or partnership if it has the ability to exercise significant influence, within the guidelines provided by section 3050 of the CICA Handbook, over that corporation or partnership or over any corporation or partnership which has significant influence over that corporation or partnership. ... For greater certainty: (a) any tax accounts, such as the balance of any RDTOH or capital dividend account of XXXXXXXXXX/Aco or XXXXXXXXXX /Bco, as the case may be, will not be considered property for purposes of the proposed transactions described herein; and (b) any shares of XXXXXXXXXX /Aco held by its shareholders and any shares of XXXXXXXXXX/Gco, XXXXXXXXXX/Ico or XXXXXXXXXX/Hco held by XXXXXXXXXX /Aco will be determined on a consolidated look-through basis for the purpose of determining the types of property held in XXXXXXXXXX /Aco immediately before Butterfly Transfer 1. 40. ...

The proposal considered in the original ruling (E9723533) was for the existing limited partners to transfer their interests to the general partner in exchange for preferred shares of the general partner except for one individual limited partner who was to sell his interest for cash consideration. ... The reasons given to continue the partnership are considered reasonable. ... You advise that to the best of your knowledge and that of the taxpayer referred to above, none of the issues involved in the ruling request has been considered by a taxation services office or a taxation centre in connection with a tax return already filed, and none of the issues involved in the ruling request is the subject of any notice of objection or is under appeal. ...

We understand that to the best of your knowledge and that of the taxpayers involved none of the issues involved in the requested rulings is being considered by a taxation services office or a taxation centre in connection with a tax return already filed, or is under objection or appeal. ... For this purpose, XXXXXXXXXX will be considered to have significant influence over a corporation if it has the ability to exercise significant influence, within the guidelines provided by section 3050 of the CICA Handbook, over that corporation or over any corporation which has significant influence over that corporation. 34. ... A participant under XXXXXXXXXX will not be considered to have received a benefit referred to in paragraph 6(1)(a) at the time and solely as a result of the amendments referred to in paragraph 98 above. ...