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
November 6, 1986
Dear Sirs: R. Nanner (613) 957-8960
Re: Registered Retirement Savings Plan ("RRSP") - Qualified Investment
This is in response to your letter dated September 29, 1986 wherein you asked us whether cash deposited with a financial institution would be a qualified investment for the purposes of an RRSP.
In our opinion, money that is legal tender in Canada and deposits thereof are qualified investments provided that the money's fair market value does not exceed its stated value as legal tender and that the deposits of such money are made with an institution to which the Canadian Deposit Insurance Corporation Act, the Bank Act or the Quebec Savings Bank Act applies.
These opinions are our best interpretation of the law as it applies generally. They may, however, not always be appropriate in the circumstances of a particular case and, as stated in paragraph 24 of the Information Circular 70-6R, they are not binding on this Department.
We hope our comments are of assistance to you.
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
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, 1986
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