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.
G. Thornley (613) 995-2455
XXXX
January 7, 1986
Dear Sirs:
Re: Canada-U.S. Income Tax Convention (1980) (the "Treaty")
This is in reply to your letter of October 29, 1985 concerning the applicable rate of withholding on annuity payments received by a U.S. resident under a matured registered retirement savings plan.
We concur with your view that such periodic payments constitute a "periodic pension payment" for the purposes of paragraph 2(a) of Article XVIII of the 1980 Treaty and therefore the applicable rate of withholding tax is 15%.
We trust you will find our answer satisfactory for your purposes.
Yours truly,
for Director Reorganizations and Non-Resident Division Specialty Rulings Directorate Legislative and Intergovernmental Affairs Branch
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© Her Majesty the Queen in Right of Canada, 1986
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© Sa Majesté la Reine du Chef du Canada, 1986
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