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.
MAY 12 1987
TO: TORONTO DISTRICT OFFICE
FROM: SPECIALTY RULINGS DIRECTORATE Farms, Personal and General Section N.M. Sheerin (613) 957-2135
Attention: Naomi Tsuji
Section 148-14
Business Enquiries Group
RE: XXXX
Whether Bridging Supplement Qualifies as a
"Retiring Allowance"
This is in reply to your memorandum of March 23, 1987, in which you enquired whether the bridging supplement received by XXXX is to be considered a retiring allowance or pension income.
Based on the information you submitted, it is our opinion that the bridging supplement payments received by these taxpayers qualify as a retiring allowance provided they are not paid out of a superannuation or pension fund or plan. The maximum amount eligible for rollover to a registered retirement savings plan would be determined by applying the formula contained in paragraph 60(j.1) to:
a) the lump sum retirement allowance received by the taxpayers at the time of their retirement (and described in paragraph 2 of their termination letter), and
b) the total supplementary benefits to be received to age 65.
We trust these comments will be of assistance to you.
ORIGINAL SIGNED BY
for Director
Small Business and General Division
Specialty Rulings Directorate
Legislative and Intergovernmental
Affairs Branch
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, 1987
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, 1987
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