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.
| 19(1) |
File No. 58924 |
| |
C. Robb |
| |
(613) 957-2744 |
November 21, 1989
19(1)
We are writing in response to your letter of October 18, 1989 wherein you requested our views on whether participating mortgage are qualified investments for a Registered Retirement Savings Plan ("RRSP") under subparagraph 146(1)(g)(iv) of the Income Tax Act and subsection 4900(4) of the Income Tax Regulations.
In our view it is a question of fact whether a participating mortgage will be qualified investment for a RRSP. It would be necessary to examine the specific agreements to determine whether or not the participating mortgage does give rise to an "equity" interest in the property.
We would be prepared to consider the matter further in the context of an advance income tax ruling.
Yours truly,
for DirectorFinancial Industries DivisionRulings Directorate
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© Her Majesty the Queen in Right of Canada, 1989
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© Sa Majesté la Reine du Chef du Canada, 1989
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