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) |
5-902261 |
| |
M.P. Baldwin |
| |
(613) 957-3499 |
19(1)
November 2, 1990
Dear Sir:
Re: Salary Deferral Arrangements
This is in reply to your letter of August 27, 1990 concerning the above mentioned subject.
It is our general view that where an employer agrees to pay an employee an amount on or after his retirement and the amount cannot reasonably be considered to be salary for services rendered that the employee agreed to defer receipt of, the amount will not be considered to be a payment out of a salary deferral arrangement. Whether such an amount would be considered to be a retiring allowance as defined in the Act can only be determined by reference to the facts of the particular case.
We trust the above comments will be of assistance to you.
Yours truly,
for DirectorFinancial Industries DivisionRulings Directorate
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© Her Majesty the Queen in Right of Canada, 1990
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© Sa Majesté la Reine du Chef du Canada, 1990
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