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.
Dear Sirs:
This is in reply to your letter of October 23, 1990 concerning paragraph 146(2)(c.4) of the Income Tax Act (the "Act").
Your particular concern relates to the situation where a bank intends to offer a higher than normal rate of interest to individuals who acquire a registered retirement savings plan ("RRSP") through the bank. This "bonus" interest would be paid into an RRSP rather than to the annuitant and you ask if this would contravene paragraph 146(2)(c.4) of the Act.
It is our view that payment of bonus interest into an RRSP does not contravene paragraph 146(2)(c.4) of the Act.
The above comments are an expression of opinion only and are not binding on the Department, as explained in paragraph 21 of Information Circular 70-6R2. We trust however that they are of assistance to you.
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© Her Majesty the Queen in Right of Canada, 1990
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 la Reine du Chef du Canada, 1990
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