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.
XXXX R. Nanner (613) 957-8960
October 21, 1986
Dear Sirs:
Re: XXXX
This is in response to your letter dated September 15, 1986 wherein you asked for our comments on the proposed changes to the registered retirement savings plan ("RRSP") contribution limits in the Notice of Ways and Means Motion to amend the Income Tax Act tabled in the House of Commons on June 11, 1986.
Although the House was prorogued before the above-mentioned Bill could be passed into law, the Department of Finance in its Release dated September 25, 1986 stated its intention to reintroduce the Bill in substantially the same form as before. On page two, the Release stated "Mr. Wilson said that all of the other Income Tax Amendments in the June 11 Ways and Means Motion will be proceeded with in the House...". Then in the next paragraph it went on to say, "The Minister noted in particular that this includes the increased ceiling for deductions of 1986 contributions to registered retirement savings plans ("RRSPs") ..."
Although we cannot confirm that the increased limits will become law, your problem has obviously been perceived by the Minister of Finance who has promised some action soon.
We are sorry that we cannot be conclusive about this matter.
Yours truly,
for Director Financial Industries Division 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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