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: RRSP - non-qualified investment
Position: This is a completed transaction requiring administrative relief. Forwarded to Assessment & Collections.
Reasons: Not an interpretation request.
XXXXXXXXXX 2003-018421
Renée Shields
(613) 948-5273
March 13, 2003
Dear XXXXXXXXXX:
Re: Non-qualified investment held by a registered retirement savings plan ("RRSP").
This is in response to your letter of October 10, 2002, forwarded to the Income Tax Rulings Directorate on January 22, 2003, regarding tax paid by an RRSP for holding a non-qualified investment.
Written confirmation of the tax implications inherent in particular transactions is given by this Directorate only where the transactions are proposed and are the subject matter of an advance income tax ruling request submitted in the manner set out in Information Circular 70-6R5, Advanced Income Tax Rulings, dated May 17, 2002. Where the particular transactions are completed, the inquiry should be addressed to the relevant tax services office.
Because you are seeking administrative relief from a provision of the Income Tax Act, we have discussed your correspondence with officials of the Assessment and Collections Branch of the Canada Customs and Revenue Agency. At their request we have forwarded your submission to their attention so that they may reply to you directly. You may contact Mr. Pierre Beaudry of the Individual Returns and Payments Processing Directorate, Assessment and Collections Branch, at (613) 952-6098.
We trust that these comments will be of assistance.
Yours truly,
Mickey Sarazin, C.A.
for Director
Financial Industries Division
Income Tax Rulings Directorate
Policy and Legislation Branch
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