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.
XXXXXXXXXX
Attention: XXXXXXXXXX
Dear Sir\Madam:
RE: Carryforward of Registered Retirement Savings Plan ("RRSP") Unused RRSP Deduction Room
This is in reply to your letter of February 2, 1993 wherein you request our opinion on the calculation of a taxpayer's RRSP deduction limit for his 1993 taxation year. As at the end of 1991, the taxpayer had an unused RRSP deduction room of XXXXXXXXXX$. This taxpayer ceased to be a Canadian resident in XXXXXXXXXX and will become a Canadian resident in 1993. An income tax return was filed under Part I for the period of the taxation year 1991 during which the taxpayer was a Canadian resident. Throughout the period of non-residency, the taxpayer continued to file income tax returns in respect of rental income earned in Canada pursuant to section 216 of the Income Tax Act (the "Act").
Our Comments:
For the purposes of calculating the 1993 RRSP deduction limit as defined under paragraph 146(1)(g.1) of the Act, we are of the view that the unused RRSP deduction room as at the end of the 1992 taxation year is XXXXXXXXXX $, provided the taxpayer had no earned income for the 1991 taxation year.
Our comments are an expression of opinion only and are not binding on the Department as explained in paragraph 21 of Information Circular 70-6R2. We trust, however, that they are of assistance.
Yours truly,
for DirectorFinancial Industries DivisionRulings Directorate
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© Her Majesty the Queen in Right of Canada, 1993
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© Sa Majesté la Reine du Chef du Canada, 1993
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