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.
February 25, 1992
Registered Plans Division Financial Industries
Division
Attention; Jeannine Lauzière D. Duff
957-8953
7-920479
24(1)
Subject: RRSP Promotion
This is in response to your memorandum of February 14, 1992, requesting our opinion on whether the offer by 24(1) of a 24(1)and a chance to win a monetary prize would be an advantage pursuant to paragraph 146(2)(c.4) of the Act.
In our opinion we would consider the 24(1) to be an advantage pursuant to paragraph 146(2)(c.4) of the Act and the chance to win a prize would also be an advantage if the prize is to be paid directly to the annuitant. However, if the prize is to be paid into the RRSP we do not consider the chance to win it to be an advantage to the annuitant.
for DirectorFinancial Industries DivisionRulings Directorate
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© Her Majesty the Queen in Right of Canada, 1992
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© Sa Majesté la Reine du Chef du Canada, 1992
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