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.
| |
5-921554 |
| 24(1) |
D. Duff |
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(613) 957-8953 |
Attention: 19(1)
September 1, 1992
Re: Registered Retirement Savings Plans ("RRSPs") Advantages pursuant to Paragraph 146(2)(c.4)
This is in reply to your letter of May 13, 1992, requesting our opinion on whether amounts paid by mutual fund managers into a RRSP as a reimbursement of redemption charges incurred by the RRSP in switching mutual funds would be considered an advantage to the annuitant pursuant to paragraph 146(2)(c.4) of the Income Tax Act ("Act"). Subparagraph 146(2)(c.4)(ii) of the Act specifically exempts payments made into the plan by the issuer from being an advantage extended to the annuitant, and, it is our general position that amounts paid into the plan in connection with the plan assets are not considered to be advantages.
We trust this is satisfactory.
Yours truly,
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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