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:
Whether a master trust under 149(1)(o.4) and reg. 5001 can also be pooled fund trust under reg. 5000(7)?
Position TAKEN:
Yes
Reasons FOR POSITION TAKEN:
Clear under the Act.
5-942074
XXXXXXXXXX Robert Gagnon
Attention: XXXXXXXXXX
October 6, 1994
Dear Sirs:
Re: Master Trusts and Pooled Fund Trusts
This is in reply to your letter of July 13, 1994 wherein you requested a technical interpretation concerning Master Trusts and Pooled Fund Trusts.
It is the Department's view that a trust that is prescribed to be a master trust under section 5001 of the Income Tax Regulations ("Regulations") and that elects to be such a trust pursuant to paragraph 149(1)(o.4) of the Income Tax Act, can also be a pooled fund trust under subsection 5000(7) of the Regulations.
The foregoing opinion is not a ruling and, in accordance with the guidelines set out in Information Circular 70-6R2 dated September 28, 1990, is not binding on the Department.
We trust our comments will be of assistance to you.
Yours truly,
for Director
Financial Industries Division
Rulings Directorate
Policy and Legislation Branch
All rights reserved. Permission is granted to electronically copy and to print in hard copy for internal use only. No part of this information may be reproduced, modified, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, or stored in a retrieval system for any purpose other than noted above (including sales), without prior written permission of Canada Revenue Agency, Ottawa, Ontario K1A 0L5
© Her Majesty the Queen in Right of Canada, 1994
Tous droits réservés. Il est permis de copier sous forme électronique ou d'imprimer pour un usage interne seulement. Toutefois, il est interdit de reproduire, de modifier, de transmettre ou de redistributer de l'information, sous quelque forme ou par quelque moyen que ce soit, de facon électronique, méchanique, photocopies ou autre, ou par stockage dans des systèmes d'extraction ou pour tout usage autre que ceux susmentionnés (incluant pour fin commerciale), sans l'autorisation écrite préalable de l'Agence du revenu du Canada, Ottawa, Ontario K1A 0L5.
© Sa Majesté la Reine du Chef du Canada, 1994
Email this Content