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.
Please note that the following document, although
believed to be correct at the time of issue, may not
represent the current position of the Department.XXXXXXXXXX 5-930377
W.C. Harding
(613) 957-8953
Attention: XXXXXXXXXX
February 22, 1993
Dear Madam:
Re: Promissory notes as RRSP Investments
This is in reply to your letter of February 9, 1993, in which you requested our comments with respect to an RRSP annuitant removing cash from an RRSP by means of a promissory note on the understanding that the note would be repaid within the same taxation year.
It is the Department's position that this is an unacceptable practice.
Yours truly,
for Director Financial Industries Division Rulings Directorate Legislative and Intergovernmental Affairs Branch
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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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