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You have advised us that to the best of your knowledge and that of the taxpayers involved, none of the issues involved in this ruling request are: (i) in an earlier return of the taxpayers or related persons; (ii) being considered by a tax services office ("TSO") or taxation centre ("TC") in connection with a previously filed tax return of the taxpayers or related persons; (iii) under objection by the taxpayers or related persons; (iv) before the Courts; or (v) the subject of a ruling previously issued by the Income Tax Rulings Directorate. ... For the purposes of subparagraph 111(5)(a)(ii), the income of Lossco which will be derived from the leasing or rental of the New Assets, which assets will be transferred to Lossco as described in paragraph 20 above, will be considered to be derived from properties similar to those that were leased or rented by Lossco in the course of carrying on its business before Profitco acquired control of Leasco on XXXXXXXXXX, in the manner described in paragraphs 7, 8 and 10. ...

Reasons: Acquisition Subco would not be considered to have a significant direct or indirect interest in any of the Targetco shares because of the Arrangement Agreement under subparagraph 88(1)(c.2)(iii). ... To the best of your knowledge, and that of the taxpayers involved, none of the issues involved in this ruling request is (i) in an earlier return of one 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 one of the taxpayers or a related person; (iii) under objection by one of 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. ...

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. ...

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. ...

To the best of your knowledge and that of the taxpayers involved, none of the issues involved in this ruling a) is in an earlier return of the taxpayer(s) or a related person, b) is being considered by a tax services office or taxation centre in connection with a previously filed tax return of the taxpayer(s) or a related person, c) is under objection by the taxpayer(s) or a related person, d) is before the courts or, if a judgment has been issued, the time limit for appeal to a higher court has not expired, and e) is the subject of a ruling previously issued by Revenue Canada, the CCRA or the CRA. ... Provided that XXXXXXXXXX supplying their respective professional XXXXXXXXXX services XXXXXXXXXX on behalf of Aco or Bco, as the case may and as described in Paragraph 11 and 12, would not, but for the existence of the particular Professional Corporation, be an officer or employee of the XXXXXXXXXX in respect of those professional XXXXXXXXXX services, then each Professional Corporation will not be considered to be carrying on a "personal services business" as defined by subsection 125(7). ...

You have advised us that to the best of your knowledge and that of the taxpayers involved none of the issues involved in this ruling request are: (i) in an earlier return of the taxpayers or any related person; (ii) being considered by a tax services office ("TSO") or taxation centre ("TC") in connection with a previously filed tax return by the taxpayers or any related person; (iii) under objection by the taxpayers or any 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. ... For greater certainty, the Proposed Transactions described herein, in and by themselves, will not be considered to result in any disposition or increase in interest described in any of subparagraphs 55(3)(a)(i) to (v). ...

You have advised us that to the best of your knowledge and that of the taxpayers involved none of the issues involved in this ruling request: (i) is in an earlier return of either of the taxpayers or any related person; (ii) is being considered by a tax services office (TSO) or taxation centre (TC) in connection with a previously filed tax return by either of the taxpayers or any related person; (iii) is under objection by either of the taxpayers or any related person; (iv) is before the courts or otherwise under appeal; and (v) will have any impact on the ability of either of the taxpayers to pay its respective outstanding tax liabilities. ... Under applicable generally accepted accounting principles, the transfers of the Portfolio, described in the Proposed Transactions, constitute related-party transactions that are not considered to be in the normal course of operations of the relevant transferor and hence will be recorded in the financial statements of the parties to the relevant transaction at the carrying amount of the Portfolio, not the exchanged amount (i.e., the fair market value of the Portfolio). 30. ...

You have advised us that to the best of your knowledge and that of the taxpayers involved none of the issues involved in this ruling request are: (i) in an earlier return of the taxpayers or any related person; (ii) being considered by a tax services office ("TSO") or taxation centre ("TC") in connection with a previously filed tax return by the taxpayers or any related person; (iii) under objection by the taxpayers or any 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. ... DEFINITIONS In this letter, all monetary amounts are expressed in Canadian dollars unless otherwise indicated, and the following terms or expressions have the meaning specified: (a) "Act" means the Income Tax Act, R.S.C. 1985 (5th Supp.) c.1, as amended from time to time and consolidated to the date of this letter, and unless otherwise expressly stated, every reference herein to a part, section or subsection, paragraph or subparagraph, clause or subclause is a reference to the relevant provision of the Act, and the Income Tax Act Regulations thereunder are referred to as the "Regulations"; (b) "adjusted cost base" ("ACB") has the meaning assigned by subsection 248(1); (c) "agreed amount" means the amount agreed on by the transferor and transferee in respect of an eligible property in an election filed pursuant to subsection 85(1); (d) "Amalco" means the corporation that continues upon the amalgamation of Bco, Holdco and Cco as described in Paragraph 14; (e) "BCA" means the XXXXXXXXXX Business Corporations Act; (f) "Bco" means XXXXXXXXXX; (g) "capital property" has the meaning assigned by section 54; (h) "Cco" means XXXXXXXXXX; (i) "cost amount" has the meaning assigned by subsection 248(1); (j) "CRA" means the Canada Revenue Agency; (k) "eligible property" has the meaning assigned by subsection 85(1.1); (l) "fair market value" ("FMV") means the highest price available in an open and unrestricted market, between informed prudent parties, acting at arm's length and with no compulsion to act, expressed in terms of cash; (m) "Holdco" means XXXXXXXXXX; (n) "Individual A" means XXXXXXXXXX, an individual who is a non-resident of Canada for the purposes of the Act; (o) "Individual B" means XXXXXXXXXX, an individual who is resident in Canada for the purposes of the Act; (p) "Individual C" means XXXXXXXXXX, an individual who is resident in Canada for the purposes of the Act; (q) "Individual D" means XXXXXXXXXX, an individual who is resident in Canada for the purposes of the Act; (r) "Individual E" means XXXXXXXXXX, an individual who is resident in Canada for the purposes of the Act; (s) "paid-up capital" ("PUC") has the meaning assigned by subsection 89(1); (t) "proceeds of disposition" has the meaning assigned by section 54; (u) "Paragraph" refers to a numbered paragraph in this advance income tax ruling; (v) "Proposed Transactions" means the proposed transactions described in Paragraphs 13 to 17; (w) "safe-income determination time" has the meaning assigned by subsection 55(1); (x) "safe income on hand" in respect of a particular share of a corporation at a particular time means the portion of the unrealized gain inherent in such share of the corporation at that time that cannot reasonably be considered to be attributable to anything other than income earned or realized (as determined pursuant to subsection 55(5)), to the extent that it is on hand, by any corporation after 1971 and before the safe-income determination time for the transaction, event or series of transactions or events that includes the Proposed Transactions; (y) "series of transactions or events" includes the transactions or events referred to in subsection 248(10); (z) "stated capital" means stated capital as that expression is used in the BCA; (aa) "Subco" means XXXXXXXXXX; (bb) "taxable Canadian corporation" ("TCC") has the meaning assigned by subsection 89(1); (cc) "taxable dividend" has the meaning assigned by subsection 89(1); and (dd) "Trust1" means the XXXXXXXXXX. ...

We understand that, to the best of your knowledge, none of the issues involved in the ruling request: (i) is in an earlier return of the taxpayer or a related person, (ii) is being considered by a tax services office or taxation centre in connection with a previously filed tax return of the taxpayer or a related person, (iii) is under objection or appeal by the taxpayer or a related person, (iv) is before the courts or, if a judgment has been issued, the time limit for appeal to a higher court has not expired, and (v) is the subject of a ruling previously issued by the Canada Revenue Agency. ... The business activities of Newco will not be considered a personal services business, as defined in subsection 125(7) of the Act. ...

is being considered by any tax services office or taxation centre of the Canada Revenue Agency (the "CRA") in connection with any income tax return already filed, or? is the subject of a ruling previously considered by the Rulings Directorate. ...