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 Sirs:
RE: Our letter of June 10, 1993
This is in reply to your letter of September 20, 1993, in which you ask us to reconsider the opinion expressed in the above-noted letter. You advise that the amounts refundable to a member under two different clauses in a registered pension plan would relate to two different years and, therefore, an amount in respect of service under one clause could be transferred pursuant to subsection 147.3(4) of the Income Tax Act (the "Act").
As noted in our previous letter, one of the requirements for transfer pursuant to subsection 147.3(4) is that the amount is in full or partial satisfaction of benefits to which the member is entitled. If, once the refund is made, the member would not be entitled to any other benefits relating to the same service, then in our view the condition in paragraph 147.3(4)(b) is met.
We trust these comments assist.
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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