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.; (l) "Foreign Affiliate" has, by virtue of subsection 248(1), the meaning assigned by subsection 95(1); (m) "Foreign Country" means XXXXXXXXXX; (n) "Holdco" means XXXXXXXXXX; (o) "Foreign Legislation" means the XXXXXXXXXX; (p) "Non-Resident" has the meaning assigned by subsection 248(1); (q) "Paid-up Capital" ("PUC") has, by virtue of subsection 248(1), the meaning assigned by subsection 89(1); (r) "Parentco" means XXXXXXXXXX; (s) "Proceeds of Disposition" ("PD") has the meaning assigned by subsection 54(1); (t) "Pubco" means XXXXXXXXXX; (u) "Related Persons" has the meaning assigned by subsection 251(2); (v) "Series of Transactions or Events" has the meaning assigned by subsection 248(10); (w) "Share" has the meaning assigned by subsection 248(1); (x) "Taxable Canadian Corporation" has, by virtue of subsection 248(1), the meaning assigned by subsection 89(1); and (y) "Treaty" means the Canada-XXXXXXXXXX Income Tax Convention. ... Pubco is a public company resident in the United States for the purpose of the Act, the United States's domestic income tax law and the Canada-United States Income Tax Convention. 2. ...

.), as amended to the date hereof, and unless otherwise stated, every reference herein to a Part, section, subsection, paragraph or subparagraph is a reference to the relevant provisions of the Act; (f) "Aco" means XXXXXXXXXX, a predecessor corporation of Zco; (g) "active business" has the meaning assigned by subsection 95(1) of the Act; (h) "Advances" means the moneys advanced by the French Investors to the G.I.E. pursuant to a loan agreement; (i) "Canada-France Treaty" means the Canada-France Income and Capital Tax Convention, 1975, as amended to the date hereof; (j) "CBCA" means the Canada Business Corporations Act, R.S.C. 1985, c. ... In particular, the CRA has not reviewed: (i) the determination of the fair market value or adjusted cost base of any property referred to herein; (ii) the validity of any agreements or terms and conditions therein; (iii) whether the terms and conditions of the New G Act Loan are such that persons dealing at arm's length would have been willing to enter into them; (iv) the residence of US LLC in the United States; (v) whether the general anti-avoidance rule will not apply to completed or future transactions other than the Proposed Transactions as described in this letter; (vi) any tax consequences relating to the amalgamation of the predecessor corporations of Zco; or (vii) any other tax consequences relating to any facts or proposed transactions referred to herein as a result of the legislative proposals introduced by the Department of Finance on February 27, 2004 (except those which had been included in Bill C-28 that received Royal Assent on December 14, 2007), and the proposed 5th Protocol of the Canada-United States Income Tax Convention. ...

.), as amended to the date hereof; (c) "active business" has the meaning assigned by subsection 95(1) of the Act; (d) "arm's length" has the meaning assigned by section 251 of the Act; (e) "B Co" means XXXXXXXXXX as described in 5 below; (f) "B Co Shares" means shares of B Co as described in 6 below; (g) "CBCA" means the Canada Business Corporations Act; (h) "CRA" means the Canada Revenue Agency; (i) "E Co" means XXXXXXXXXX as described in 5 below; (j) "E Co Leasing" means XXXXXXXXXX, a subsidiary of E Co Holdco as described in 5 below; (k) "E Co Holdco" means XXXXXXXXXX, a subsidiary of E Co as described in 5 below; (l) "fair market value" means the amount at which property would exchange hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of the relevant facts; (m) "Finance Co" means XXXXXXXXXX, a wholly-owned subsidiary of A Co; (n) "New B Co" means a newly incorporated company under the laws of XXXXXXXXXX as described in 14 below: (o) "New Canco" means a newly incorporated company as described in 13 below; (p) "New LP" means XXXXXXXXXX, Limited Partnership, a limited partnership as described in 8 below; (q) "Note" means a promissory note issued by A Co to W Co as described in 6 below; (r) "paid-up capital" has the meaning assigned by subsection 89(1) of the Act; (s) "Previous Ruling Request" means the taxpayer's written request for an advance income tax ruling dated XXXXXXXXXX, the taxpayer's letter dated XXXXXXXXXX, with additional information relating to the original request, and the Ruling (2005-015225) dated XXXXXXXXXX, 2005; (t) "principal amount" has the meaning assigned by subsection 248(1) of the Act; (u) "Proposed Transactions" means the proposed transactions described in 13 to 19 below; (v) "Regulations" means Income Tax Regulations, Consolidated Regulations of Canada, Chapter 945 as amended to the date hereof; (w) "related persons" has the meaning assigned by subsection 251(2) of the Act; (x) "taxable Canadian corporation" has the meaning assigned by subsection 89(1) of the Act; (y) "third parties" means persons who act at arm's length with the X Group; (z) "Transferred Shares" has the meaning described in 6 below; (aa) "Treaty" means the Canada-United States Income Tax Convention; (bb) "US LLC" means a newly formed limited liability company as described in 15 below; (cc) "W Co" means XXXXXXXXXX as described in 2 below; (dd) "X Co" means XXXXXXXXXX as described in 1 below; and, (ee) "X Group" means XXXXXXXXXX and entities related to it. ... E Co is a resident of XXXXXXXXXX for purposes of the Canada-XXXXXXXXXX Income Tax Convention. ...

D'ici à ce que la Société conclut la nouvelle convention de crédit décrite ci-dessous au numéro 10, la Société va utiliser une portion des fonds disponibles sous la Facilité de Crédit Permanent ("Fonds Admissibles") afin d'acquitter des dépenses courantes comme il est mentionné ci-dessous au numéro 11d) au fur et à mesure qu'elles deviennent exigibles. ... La Société va conclure une nouvelle convention de crédit en vertu de laquelle elle empruntera une somme de XXXXXXXXXX $US équivalente à environ XXXXXXXXXX $CA sous une facilité de crédit à long terme (ci après "Emprunt XXXXXXXXXX"). 11. ...

.), as amended to the date hereof, and unless otherwise stated, every reference herein to a Part, section, subsection, paragraph or subparagraph is a reference to the relevant provisions of the Act; (b) "Canada-Luxembourg Treaty" means the Convention Between the Government of Canada and The Government of the Grand Duchy of Luxembourg for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion With Respect to Taxes on Income and on Capital, signed on September 10, 1999; (c) "Canada-US Treaty" means the Convention Between Canada and The United States of America With Respect to Taxes on Income and on Capital, signed on September 26, 1980, as amended by the Protocols signed on June 14, 1983, March 28, 1984, March 17, 1995 and July 29, 1997; (d) "Code" means the Internal Revenue Code of the United States of America; (e) XXXXXXXXXX; (f) "Foreign Parent" means XXXXXXXXXX; (g) "Foreign Sub1" means XXXXXXXXXX; (h) "Foreign Sub2" means XXXXXXXXXX; (i) "Group" means, collectively, Foreign Parent and each of its direct and indirect subsidiaries; (j) "Holdco" means XXXXXXXXXX a company organized as a Luxembourg Public Limited Liability Company (Société Anonyme); (k) "ITAR" means the Income Tax Application Rules, R.S.C. 1985 c. 2 (5th Supp.) as amended to the date hereof; (l) "Partnership" is the proposed general partnership of which the partners will be US LLC and Holdco; (m) "Partnership Agreement" means the General Partnership Agreement between Holdco and US LLC to form the Partnership; (n) XXXXXXXXXX; (o) "US" means the United States of America; (p) "US LLC" is the proposed, newly formed US limited liability corporation which will be formed in the State of XXXXXXXXXX as a wholly-owned subsidiary of Holdco; and (q) "US Parent" means XXXXXXXXXX a company incorporated under the laws of XXXXXXXXXX and a wholly-owned subsidiary of Holdco. ...

2006 Ruling 2005-0151051R3 F- Entente d'échelonnement de traitement Unedited CRA Tags 248(1) 8(1) Principales Questions: Dans une situation particulière où une société met en place un régime d'intéressement à l'intention de certains de ses employés, est-ce que: 1) le régime constituera une entente d'échelonnement du traitement; et 2) le régime constituera une convention de retraite. ... Le Régime ne constituera pas une convention de retraite au sens du paragraphe 248(1) de la Loi. ...

La FFCP émettra des parts de deux catégories présentant les caractéristiques suivantes: a) chaque part sera entièrement libérée et non susceptible d'appel de versement; b) chaque part constituera une part proportionnelle indivise d'intérêt variable dans une section de la fiducie, soit la part capital pour chaque part de la catégorie A et la part revenu pour chaque part de la catégorie B; c) chaque part entière conférera une voix et un vote à son détenteur à chaque assemblée des détenteurs de parts; d) les parts seront cessibles, sous réserve de la réglementation applicable en matière de valeurs mobilières et des formalités de cession décrites à la convention de FFCP; e) aucun certificat ne sera émis pour constater l'existence ou le nombre de parts détenues par un bénéficiaire. 6. ... Un contrat à terme, une option sur un contrat à terme ou une option acquis auprès d’une bourse canadienne ou conclus au Canada avec des personnes résidantes du Canada ne sont pas normalement considérés comme un bien étranger s’il ne s’agit pas d’une convention permettant d’acquérir un bien étranger au sens de l’alinéa 206(1)f) de la LIR. ...

XXXXXXXXXX the shareholders approved, among other items: (a) the creation of a new class of XXXXXXXXXX Shares and the necessary amendments to the rights of the existing classes of shares and the constrained shares provisions, and (b) amendments to the DRIP to extend the plan to holders of the XXXXXXXXXX Shares and to permit cash dividends (net of the appropriate amount of tax withheld under Part XIII, subject to any applicable Tax Convention, with respect to a shareholder who is not resident in Canada) paid in respect of each class of shares to be reinvested in additional shares of that class, or in certain circumstances, in shares of other classes. 11. ... XXXXXXXXXX Dividends designated by a non-resident participant for reinvestment under the DRIP will be reduced by the appropriate non-resident withholding tax under Part XIII, subject to any applicable tax convention. ...

Principal Issues: (i) Whether the foreign affiliate of the taxpayer is a resident of France for the purposes of Article 4 of the Canada-France Income Tax Convention; (ii) Whether XXXXXXXXXX; and (iii) Whether paragraph 5906(1)(a) and subparagraph (d)(i) of the definition of "exempt earnings" in subsection 5907 (1) of the Income Tax Regulations apply to the active business income earned XXXXXXXXXX by a branch of the foreign affiliate situated therein. ... Definitions In this letter the following terms have the meanings specified: (a) "Act" means the Income Tax Act R.S.C. 1985 c.1 (5th Supp.), as amended to the date hereof, and unless otherwise stated, every reference herein to a part, section, subsection, paragraph, subparagraph or clause is a reference to the relevant provisions of the Act; (b) "active business" has the meaning assigned by subsection 95(1) of the Act; (c) "Aco" means XXXXXXXXXX; (d) "Aco 2001 Ruling" means the advance income tax ruling issued by the CCRA to Aco on XXXXXXXXXX, 2001 (reference #2001-008991), as amended by a further letter from the CCRA to Aco dated XXXXXXXXXX, 2001 (reference #2001-010443); (e) "Bco" means XXXXXXXXXX; (f) "Canada-France Treaty" means the Canada-France Income and Capital Tax Convention, 1975, as amended to the date hereof; (g) "CBCA" means the Canada Business Corporations Act, R.S.C. 1985, c. ...

In addition, since the proposed transactions do not involve the application of any of the tax conventions Canada has with other countries, we cannot provide a ruling on the application of the tax conventions generally. ...