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 Peter K. Noack (613)957-8963
February 17, 1988
Dear Sirs:
We reply to your letter of October 8 concerning certain incentive programs involving various bonuses that would be added by issuers of RRSPs to the assets of newly opened plans or plans to which new contributions are made.
As discussed with you on the telephone, the matter of the application of paragraph 146(2)(c.4) of the Income Tax Act (Act) to incentive programs similar to those you described in your letter is currently under review. Nevertheless, we have concluded that incentive programs involving a lottery scheme such as a chance to be selected at random for the receipt of a bonus will be considered an advantage as contemplated in paragraph 146(2)(c.4) of the Act.
Yours truly,
for Director Financial Industries Division Rulings Directorate
All rights reserved. Permission is granted to electronically copy and to print in hard copy for internal use only. No part of this information may be reproduced, modified, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, or stored in a retrieval system for any purpose other than noted above (including sales), without prior written permission of Canada Revenue Agency, Ottawa, Ontario K1A 0L5
© Her Majesty the Queen in Right of Canada, 1988
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, 1988
Email this Content