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.
| 24(1) |
File No. 900598 |
| |
Maureen Shea-DesRosierss |
| |
(613) 957-8953 |
Attention: 19(1)
June 21, 1990
Dear Sirs:
This is in reply to your letter of April 27, 1990 wherein you requested a technical interpretation concerning the application of subsection 146(8.91) of the Income Tax Act (the "Act").
We do not provide technical interpretations with respect to factual and completed transactions. These may, however, be discussed with officials at your local district office to ascertain their income tax implications. We do, however, offer the following general comments.
As mentioned in paragraph 6 of Interpretation Bulletin IT-500, for purposes of subsection 146(8.91) of the Act, the deceased's legal representatives will be considered to receive amounts "for the benefit of the spouse" where, as a result of a disclaimer by another beneficiary of an interest in the estate, the residue including the funds derived from the plan is distributed to the spouse.
As indicated in paragraph 29 of IT-500, under paragraph 60(1) of the Act, the spouse of the deceased may transfer all or part of the refund of premiums into a Registered Retirement Savings Plan under which the spouse is the annuitant. Proposed subsection 146(1.1) of the Act will, when enacted, expand the definition of spouse for the purposes of subsection 146(8.91) of the Act to include a common law spouse.
We trust that our comments will be of assistance to you.
Yours truly,
for DirectorFinancial Industries DivisionRulings Directorate
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