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.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CCRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ADRC.
Principal Issues: minor changes
Position: no impact on rulings
Reasons: minor changes
XXXXXXXXXX 2002-017838
XXXXXXXXXX, 2002
Dear XXXXXXXXXX:
Re: XXXXXXXXXX
(the "Operating Partnership")
Those persons who from time to time become limited partners
in the Offering Partnership
Supplementary Advance Income Tax Ruling
This is in reply to your letter of XXXXXXXXXX, and is supplemental to our consolidated advance income tax ruling number 2002-017052 dated XXXXXXXXXX, 2002 (the "Ruling").
As a result of your letter, the following changes will be made to the Ruling:
1. In the list of defined terms, delete the terms defined in paragraphs (o) through (x) inclusive.
2. Delete paragraph 12, and insert the following in its place:
"12. XXXXXXXXXX."
3. Delete the first and second paragraphs in paragraph 13, and insert the following in their place:
"Canco #2 will enter into an agreement with Canco #3 whereby Canco #2 will assume certain indebtedness of Canco #3. In consideration of such assumption, Canco #3 will issue a note (the "Canco #3 Note") to Canco #2.
4. In the fifth sentence in paragraph 19, delete "XXXXXXXXXX", and insert "XXXXXXXXXX" in its place.
5. In the second sentence in paragraph 33A, delete "Debt #XXXXXXXXXX", and insert "certain debts of Canco #3" in its place.
6. In the last sentence in paragraph 33A, delete "Debt #XXXXXXXXXX exceeds", and insert "the debts assumed exceed" in its place.
7. Delete subparagraph (a) in paragraph 38.
8. In subparagraph (b) in paragraph 38, delete "$XXXXXXXXXX", and insert "$XXXXXXXXXX" in its place and delete "Canco #2", and insert "XXXXXXXXXX" in its place.
9. Delete subparagraph (e) in paragraph 38, and insert "as to the balance, to pay certain professional fees" in its place.
10. Delete the last sentence in paragraph 38.
11. Delete the sub-heading "Sources and Uses of Funds by Canco #2" immediately before paragraph 39.
12. Delete paragraphs 39 and 40, and insert the following in their place:
"39. XXXXXXXXXX."
13. In the last sentence in paragraph 41, delete "XXXXXXXXXX", and insert "XXXXXXXXXX" in its place.
14. In the first sentence in paragraph 42, delete "XXXXXXXXXX" and immediately before the period in the first sentence in paragraph 42 insert "XXXXXXXXXX."
15. In the second sentence in paragraph 42, delete "XXXXXXXXXX", and insert "XXXXXXXXXX" in its place.
16. At the beginning of the third paragraph in paragraph 43, delete the capital "XXXXXXXXXX", and insert "XXXXXXXXXX" in its place.
17. Immediately before the beginning of the third paragraph in paragraph 43, insert "XXXXXXXXXX."
18. In the first sentence in the third paragraph in paragraph 43, after the words "XXXXXXXXXX ", delete "XXXXXXXXXX", and insert "XXXXXXXXXX" in its place.
19. At the end of the third paragraph in paragraph 43, insert "XXXXXXXXXX."
20. In the first sentence in the fifth paragraph in paragraph 43, insert "XXXXXXXXXX" after "XXXXXXXXXX" and before "XXXXXXXXXX".
21. In the first sentence in the fifth paragraph in paragraph 43, insert "XXXXXXXXXX," after the words "XXXXXXXXXX".
22. Delete the heading "Sources and Uses of Funds by Canco #2" immediately before paragraph 45.
23. Delete paragraph 45.
24. Delete the heading "Sources and Uses of Funds by Canco #3" immediately before paragraph 46.
25. Delete paragraph 46.
Notwithstanding the above changes, we confirm that the Ruling will continue to be binding on the Canada Customs and Revenue Agency in the manner described therein.
If we can be of any further assistance, please contact the writer.
Yours truly,
XXXXXXXXXX
for Director
Business and Partnerships Division
Income Tax Rulings Directorate
Policy and Legislation Branch
All rights reserved. Permission is granted to electronically copy and to print in hard copy for internal use only. No part of this information may be reproduced, modified, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, or stored in a retrieval system for any purpose other than noted above (including sales), without prior written permission of Canada Revenue Agency, Ottawa, Ontario K1A 0L5
© His Majesty the King in Right of Canada, 2002
Tous droits réservés. Il est permis de copier sous forme électronique ou d'imprimer pour un usage interne seulement. Toutefois, il est interdit de reproduire, de modifier, de transmettre ou de redistributer de l'information, sous quelque forme ou par quelque moyen que ce soit, de facon électronique, méchanique, photocopies ou autre, ou par stockage dans des systèmes d'extraction ou pour tout usage autre que ceux susmentionnés (incluant pour fin commerciale), sans l'autorisation écrite préalable de l'Agence du revenu du Canada, Ottawa, Ontario K1A 0L5.
© Sa Majesté le Roi du Chef du Canada, 2002
Email this Content