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.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
Principal Issues:Judges RRSP deduction Limit calculation and application to provincial judges.
Position TAKEN:Does not apply to provincial judges.
Department position on calculation explained.
Reasons FOR POSITION:general application of law.
XXXXXXXXXX 5-942050
Attention: XXXXXXXXXX
September 1, 1994
Dear Sirs:
Re: Judges Registered Retirement Savings Plan "RRSP Deduction Limit"
This is in reply to your letter of August 5, 1994, concerning the RRSP deduction limit for Judges.
In respect to your first concern, subsection 8309(2) of the Income Tax Regulations specifically refers to a judge in receipt of salary under the Judges Act and is therefore restricted in its application to those particular judges.
In respect to your second concern, it is the Department's position that the comma immediately preceding the phrase "or a prescribed amount ..." in the definition of "RRSP Deduction Limit" in subsection 146(1) of the Income Tax Act does not result in a separate determination of an amount for "B". In other words, the prescribed amount is included in the "aggregate of all amounts" which reduces the amount "B" as otherwise calculated.
The above comments are based on our understanding of the law as it applies in general and may or may not apply to the circumstances of a particular case. They do not form an advance income tax ruling and they are not binding on the Department.
Yours truly,
for Director
Financial Industries Division
Rulings Directorate
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© Her Majesty the Queen in Right of Canada, 1994
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