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.
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7-920942 |
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D. S. Delorey |
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957-8953 |
April 16, 1992
Registered Plans DivisionFinancial Industries DivisionS. M. Kotlar, Director
Attention: Jeannine Lauzière
24(1)
This is in reply to your memorandum of March 26, 1992, concerning a contest sponsored by the 24(1)
Our Comments
As stated in David Duff's memorandum to you of February 25, 1992, the chance to win a prize is an advantage under paragraph 146(2)(c.4) of the Act only where the prize is to be paid to the annuitant rather than into the annuitant's RRSP. Since 24(1)contest involves prizes that will be paid into the winners' RRSPs, the chance to win such a prize is not considered to be an advantage under paragraph 146(2)(c.4) of the Act.
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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