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: Whether the changes to the Facts impact the rulings given in 2025-107639.
Position: Supplemental ruling given.
Reasons: The changes do not impact the rulings given in 2025-107639.
XXXXXXXXXX 2025-108123
XXXXXXXXXX, 2025
Dear XXXXXXXXXX:
Re: Supplemental Income Tax Ruling
XXXXXXXXXX
This is in reply to your email dated XXXXXXXXXX regarding advance income tax ruling 2025-107639 (Ruling Letter) issued on XXXXXXXXXX.
As requested, the amendments (Amendments) described below are hereby made to the Ruling Letter.
Unless otherwise defined herein, all capitalized terms in this letter (Supplemental Ruling Letter) have the meanings assigned to them in the Ruling Letter, and, where the circumstances so require, the singular should be read as plural and vice versa.
Ruling Letter – Facts
1. Paragraph 2 is amended by removing the word “XXXXXXXXXX” and replacing it with the word “XXXXXXXXXX”.
2. Paragraph 3 is amended by removing the year “XXXXXXXXXX” and replacing it with the year “XXXXXXXXXX”.
3. Paragraph 27 is replaced by the following:
“On XXXXXXXXXX Lossco incorporated a new corporation (“Newco”) under XXXXXXXXXX, and subscribed for XXXXXXXXXX common share for an initial subscription price of $XXXXXXXXXX. Newco has the following three classes of shares:
(a) unlimited number of common shares;
(b) unlimited number of Class A preferred shares (“Class A PS”); and
(c) unlimited number of Class B preferred shares.
The Class B preferred shares will not be used in the Proposed Transactions.”
Confirmation
Provided that the statements contained in the Ruling Letter, as amended by the Supplemental Ruling Letter, constitute a complete and accurate disclosure of all the relevant facts and proposed transactions and of the purposes of the proposed transactions, notwithstanding the Amendments, we hereby confirm that, subject to the conditions, limitations, qualifications and comments set out in the Ruling Letter and in Information Circular 70-6R12 dated April 1, 2022, the Rulings given in the Ruling Letter will continue to be binding on the CRA.
Yours truly,
XXXXXXXXXX
Manager, Reorganizations Section II
for Division Director
Reorganizations Division
Income Tax Rulings Directorate
Legislative Policy and Regulatory Affairs Branch
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© His Majesty the King in Right of Canada, 2025
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